Last week EUR/NZD tried to test levels above 1.70 but failed to hold there and ultimately closed at 1.6820.
Daily Market Analysis
NZD/USD has been trading in a very volatile fashion recently. The latest development has been that the pair met resistance in the vicinity of 0.67.
It seems that EUR/CHF is having trouble with returning above 1.1150 (61.8% Fibo of the 2017-2018 advance; 50-month MA).
USD/JPY formed a higher low last week. Then it broke above the resistance line connecting May 13 low and the highs of June.
The pair formed a “double top” pattern at the resistance line that has been in place since the start of 2018.
After its peak at the end of June, BTC/USD has been constantly forming lower highs and making significant legs to the downside.
EUR/GBP met resistance in the 0.8990 area. It failed to overcome this obstacle for the second week in a row.
EUR/CAD made a big breakout to the downside. On W1, you will see that it broke the support line from 2015.
NZD/CHF formed a bearish candlestick with a long lower shadow on W1.
The pair failed to close above the declining 100-day MA on Thursday forming a candle which is very similar to a “shooting star”.
XAU/USD, also known as spot gold, rose to the 1,440 area - the same zone that stopped its advance last week.
It looks like a bearish “Bat” pattern is formed on the chart of USD/CHF.