The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
NZD/USD: 34 Moving Average acted as resistance
Information is not investment advice
There's a 'Double Bottom', which pushed the market higher, but the 34 Moving Average has acted as resistance, so the price is consolidating. Also, we've got a 'Triple Top' pattern, which supposed to be the beginning of a local downward correction. Thus, we should watch the nearest important support at 0.6622 - 0.6609 as a potential bearish target. If a pullback from this area happens little later on, there'll be a moment for another upward price movement towards the previously tested resistance at 0.6666 - 0.6683.
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Technical analysis of the USD/CAD
The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?
It looks like GBP/JPY is finally trying to break out of the recent consolidation. Learn more!
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.