GBPNZD has recently bounced off the top of its range at the 1.7900 major psychological level and is making its way to the bottom at 1.7400. If this holds as support, another bounce back to the resistance could take place. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside, which means that the support is more likely to hold than to break. These moving averages could also hold as near-term inflection ...
"EURUSD has been trending lower on the short-term time frames, with a potential retracement opportunity presenting itself on the 4-hour chart. Price previously broke below support around 1.0850-1.0900 before dipping close to the 1.0700 handle then pulling back.Using the Fibonacci retracement tool on the latest swing high and low shows that the 50-61.8% levels line up with the broken support zone. This might hold as resistance since it is also close ...
Summary The fundamental basis for a strong dollar is being questioned.A modest extension of the euro's gains may be expected ahead of the ECB and US jobs data.The dollar closed below the 200-day moving average against the yen on a weekly basis for the first time since before Abe was elected.The dollar appears to have formed a head and shoulders top against the peso. The constructive outlook for the US dollar was predicated on two beliefs. First that growth and interest ...
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