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.
EUR/NZD has a chance to get higher
BUY 1.6750; TP 1.6850; SL 1.6730
This month EUR/NZD broke the downtrend resistance line which had been in place since the start of January. The pair also got above the 38.2% Fibonacci retracement of the January-March decline. This level at 1.6635 is now acting as support together with the 100-day MA at 1.6658. Resistance lies at the 50% Fibo at 1.6740. The advance above this level will bring EUR/NZD to 1.6850 and potentially to 1.7000.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
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