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/USD: levels to trade
SELL 1.1165; TP 1.1137; SL 1.1180
BUY 1.1255; TP 1.1295; SL 1.1240
On Tuesday, EUR/USD formed a candlestick with a small body and long upper and lower wicks - this is a sign of the market’s uncertainty. The candlestick appeared at the neckline of the “Head and Shoulders” pattern and within a larger downtrend. As a result, the downside risks seem bigger than the upside ones. On H4 we see a potential double top. A decline below the 100-period MA at 1.1167 will open the way down to 1.1137 (50-period MA). On the upside, buying is possible only above yesterday’s high of 1.1250 with the target at 1.1295 (resistance line).
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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