Friday was disastrous for the EURUSD pair; after reaching an October higher high at 1.16900, the pair made a sharp turn, and the value dropped to 1.15320. Today EURUSD found support at 1.15000, and the current gain climbed us to 1.15730.
EURUSD should break above the MA20 and MA50 moving averages.
We need to go back to the previous resistance zone around 1.16500-1.16700.
Our next resistance is the upper trend line at 1.17000, then the MA200 moving average at 1.17200.
A breakthrough above boosts bullish optimism.
We need negative consolidation and new testing of the previous lower low at 1.15220.
Our next lower support is 1.15000, then at 1.145000.
There is still a lot of bearish pressure on the pair since May.
GBPUSD chart analysis
The GBPUSD pair is still under a lot of pressure. Friday’s decline continues from 1.38000 to the current 1.36760. The pressure is increased with moving averages from the upper side.
GBPUSD needs to find support at the current level, and we need a new positive consolidation.
Further growth leads us again to the zone of moving averages around 1.38000.
Our next resistance is the upper trend line from July.
Pair should continue the negative consolidation, and our next first support is at 1.36000.
Then next at 1.35500, then 1.34100 October lower low.
The broader picture tells us that we are still in the bearish trend and expect a further continuation to the lower levels on the chart.
NZDUSD chart analysis
The pair has been consolidating between 0.71300-0.72200 for the past two weeks. During last night’s Asian session, the NZD strengthened and climbed to the current 0.71950, testing 0.72000 level. For a more concrete continuation to the bullish side, we need a break above 0.72500.
Pair must stay above zone 0.71500 and, with positive consolidation, should make a breakthrough above 0.72500.
As additional support, we have moving averages from below.
Our first possible upper resistance is the trend line in the zone around 0.72500, and the bullish target is 0.73000 zones of movement in June.
We need a break below the 0.71500 support zone.
Our first potential next support is at 0.71000 with the MA50 moving average, then 0.70500 with the MA200 moving average, and 0.70000 at the bottom trend line.
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