NZD/USD: bears targeting below 0.7200

NZD/USD: bears targeting below 0.7200

Kiwi has been strong inside a bearish trend started since days ago. Currently, it’s being capped by the 200 SMA at H1 chart, which acts as strong dynamic resistance between the 0.7271 and 0.7255 levels (65% - 50% Fibonacci retracement area) and we would like to see a NZD/USD weak towards 0.7176 as the first and main target to the downside, which is also a Fibo level (-23.6%).

RSI indicator remains at the positive territory, calling for limited upside moves, as it’s approaching the overbought territory.



GBP/CAD targeting lower levels

It seems the GBP/CAD looks forward to resume the bearish bias in the short-term, as it has been correcting the cycle started from May 18th and now, we can expect another leg higher to re-test the Fibonacci level of 50% at 1…


Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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