AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s.
EUR/USD: a temporary bottom
2020-04-07 • Updated
On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835). The correction to the upside may take the euro to 1.0910/1.0937 (100- and 50-period MAs).
On the H1, the pair’s trying to get above the 100-hour MA at 1.0857. The successful advance above this line is needed to trigger the mentioned bullish move. Support lies at 1.0854 and 1.0805. The slide below the latter, will open the way back down to 1.0770.
Trade idea for EUR/USD
BUY 1.0865; TP 1.0910; SL 1.0850
These days, investors’ attention is on Microsoft ahead of the company’s Windows 11 event on June 24.
EUR/USD found support at 1.1845 and is currently trading just below the 61.8% Fibonacci retracement of the March-May advance at 1.1920.
NZD/USD has returned above the 50-week MA at 0…