Stocks, oil, and risk currencies gained on Tuesday as the formal go-ahead for US President-elect Joe Biden to begin his transition burnished a November already boosted by Covid-19 vaccines.
EUR/NZD: euro keeps losing
Information is not investment advice
EUR/NZD has once again turned down from the levels around 1.7600. The pair found some support at 1.7300 on Thursday but slipped below all the important Moving Averages (50-, 200- and 100-period) on the H4. The euro isn’t oversold yet, and the decline below 1.7300 will bring it to 1.7235/25 (61.8% Fibo of the September advance, 50-day MA). Resistance lies at 1.7360, 1.7380 and 1.7400.
EUR/USD fell below 1.1850 after reaching 1.1920 on Monday. The pair consolidated after the initial bearish move.
USD/CAD remains within a downtrend. As a result, selling the pair as it turns down from resistance is the best strategy. Support lies at 1.3125.
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US President-elect Joe Biden proposed a $1.9 trillion stimulus plan to jump-start the world's largest economy and accelerate its response to COVID-19