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.
USD/CNH: a trade idea
BUY 6.9175; TP 6.9450; SL 6.9050
Monday greeted traders by the risk sentiment gone bad. Concerns about the US-China trade tensions returned. Does the technical analysis offer a way to make money on this development?
Let’s have a look at USD/CNH. The pair formed a long lower wick on the W1 and returned above 100-day MA on D1. On H4, it closed above the last week’s high. As a result, we expect USD/CNH to test resistance and close the gap formed at the start of last week.
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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