AUD/NZD experienced an impressive rally since the end of March.
Daily Market Analysis
Citigroup stock jumped this week after the bank released its financial results for Q1.
The market has shown that EUR/USD remains a sell on its attempts to recover.
EUR/CHF met resistance at the 50-week MA around 1.14. The Moving Average has recently formed a “dead cross” with the 100-week MA.
CHF/JPY has been consolidating within a pennant formation since February.
There’s a scope for an advance to the 2018 resistance line at 112.80.
XAU/USD has been consolidating within the narrowing wedge since 2016.
WTI oil formed a “shooting star” candlestick on W1 around 61.8% Fibonacci resistance of the October-December decline.
If we look at the daily chart, we’ll see a diamond-shaped broad consolidation range.
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GBP/USD has been consolidating between 1.3120 and 1.3010. Yesterday the pair broke below the support of the short-term triangle.
This month EUR/NZD broke the downtrend resistance line which was in place since the start of January.