NZD/CAD has reached a 200-week MA (0.8950) and formed a “shooting star” candlestick on the D1. On the H4, we see a lower high.
AUD/NZD: levels to watch
SELL 1.0665; TP 1.0625; SL 1.0680
Last week, AUD/NZD formed a lower high on the D1 and then stayed below 1.0730/20 (April and May highs) during the following days. The pair is currently testing levels below the 100- and 200-week MAs in the 1.0700 area. On the H4, the picture looks pretty negative with all the key MAs above the price and providing resistance and the 50-period MA moving down to the 200-period MA: if the lines cross, it will e a bearish signal. Such a signal might correspond with the dip below last week’s lows around 1.0670. In this case, the downside target will be at 1.0625 (50-day MA).
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
The pair was falling down amid the waning US dollar. However, the situation changed this month.
Dollar continues to keep firmer on the day, all eyes on the US jobs report later.
Asian equity markets failed to sustain the positive tone from Wall Street where all major indices notched gains as technology sector outperformed for another day.