The Australian dollar set a strong upward trend over a month. Will AUD loose its gains soon?
Daily Market Analysis
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.
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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.
The New Zealand dollar seems to be tipping out against the USD. Will that be another full cascade downwards?
The stock market has had three days of rising and finally stopped. Is it a tipping point or just a pause before the next upswing?