EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
AUD/NZD has some troubles
Information is not investment advice
The Australian dollar will likely be quite volatile on Tuesday as the Reserve Bank of Australia Governor Philip Lowe is scheduled to speak at 12:55 MT time. The RBA will likely be under pressure to cut rates further, so we await some negative impact on the AUD.
There are good levels for shorts below support in AUD/JPY and AUD/CHF, but in this article, we’d like to have a look at AUD/NZD. The pair has reached the resistance of the 61.8% Fibo of the 2018 decline in the 1.0800 area. The line connecting the 2019 highs also lies here. The attempts of the Aussie to get higher were so far unconvincing. On H4, the pair is below the 50-period MA at 1.0775. This previous support may now act as resistance. The inability to return above it will lead AUD/NZD down to 1.0725 (100-period MA on H4) and 1.0700 (200-week MA).
NZD/CAD has reached a 200-week MA (0.8950) and formed a “shooting star” candlestick on the D1. On the H4, we see a lower high.
XAU/USD has moved this week in line with its short-term uptrend and the overall long-term uptrend reaching $1 865.
U.S. stocks are set to open lower Friday, continuing the recent selloff with investors' confidence hit by a combination of pandemic, economic and political worries
European stock markets largely weakened Friday, with investors concerned that the second wave of Covid-19 cases will halt the region’s nascent recovery.
XAU/USD formed a “hammer” candlestick on the D1 ahead of the 100-day MA. The price made a higher low on the H4 and now only the resistance at $1 877 separates the precious metal from further gains.