Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.
NZD/CAD has been moving up
On the daily chart of NZDCAD, the RSI indicator has been trying to leave the oversold area. Moreover, we see that the pair has been forming candlesticks with long shadows that may be considered as an additional signal of the possible reversal. If we take a look at H4, we will see that the pair has been moving towards the first target at 0.8555. The next long may be expected after the pair touches 0.8574. The target will lie at 0.8607.
If the pair slides, the first support is located at 0.8528. The next level for short is at 0.8511. In the case of the weak NZD, the pair will continue suffering to 0.8502.
The JPY is the strongest and the NZD is the weakest. Jump in for the fresh analysis!
European shares fell on Monday as rising COVID-19 infection rates in Europe prompted renewed lockdown measures in some countries, casting doubt over the economic recovery, with a lack of U.S. stimulus also weighing on sentiment.
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
UK's Raab supports that virus restrictions are serious, proportionate
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.