NZD/USD got rejected from the 200- and 100-day MAs in the 0.6710-0.6995 area.
Daily Market Analysis
The Reserve Bank of Australia is expected to cut its Cash Rate from 1.25% to 1% on Tuesday, July 2.
AUD/CAD is consolidating in the narrow range between 0.92 and 0.9160 for the fifth day.
AUD/NZD has been forming a series of lower highs since April. This week the pair settled below the 100-day MA at 1.0500.
EUR/NZD made a top in June and went down going through the 50-day MA (1.7035) and the support line from March lows.
USD/ZAR has recently breached down the support line from February lows.
The pair will be affected on the intraday basis by British Inflation Report hearings and US durable goods orders.
EUR/USD met resistance in the 1.1415 area. The pair’s advance in the recent days was quite rapid, so it might be hard for the euro to retain the bullish momentum.
After its extensive decline last week, the USD can make a small comeback.
NZD/CHF is trading within a downtrend on D1. The currency pair went below 78.6% at 0.6450 and is likely to test levels around 0.6390/70.
EUR/GBP formed a candlestick with a long upper wick on W1. Daily Awesome Oscillator is going down.
CAD/JPY formed a “shooting star” candlestick on D1. This means that the pair will likely move down in line with the overall downtrend.