AUD/USD turned down
AUD/USD made another attempt to close below the 50-day MA at 0.6845 and this time it was successful.
EUR/NZD may test the uptrend
Information is not investment advice
Have a look at the pair EUR/NZD as it might present some interesting trade ideas. The pair’s been in an uptrend since the end of March. Last week, it reached resistance around 1.72 (January high) and then turned down forming a doji with a longer upper wick on W1.
It means that the air will likely test the uptrend support line at 1.7065/50 in the short-term. If the pair manages to rebound from this level, it will get a chance to revisit 1.7200. Conservative buyers may enter above 1.7140. However, the ADX indicator shows that the uptrend is losing strength. Still, as long as the trend is intact there are bigger odds that it will continue. A decline below 1.7050 will open the way down to 1.6990 (50-week MA) and probably 1.6925 (200-day MA).
Elizabeth Belugina
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AUD/USD turned down
AUD/USD made another attempt to close below the 50-day MA at 0.6845 and this time it was successful.
EUR/AUD has some fuel
EUR/AUD formed a "hammer" candlestick on the W1, above the 50-week MA in the 1.6010 area.
USD/CAD is in a triangle
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