Technical Analysis

It’s early but the NZD is the strongest of the majors. The JPY is the weakest.

The USD is mostly lower marginally

I know it is early and ranges are modest but the NZD is the strongest of the majors and the JPY is the weakest. That makes the NZDJPY the biggest mover.  It is up 0.22% on the day.  

Looking at the hourly chart below, that pair moved to the lowest level since January flash crash on Friday. That move fell to an old trend line (that was broken on May 31 but moved back above on June 3)   The move higher today is also back above the swing low from June 3.  Can the pair stay above that old low and start a bigger correction higher?  

We will see.  


Articles You May Like

A Simple Forex Trading Strategy ANYONE Can Do Without A Lot of Technical Analysis!
It’s not a pretty picture in cable
US initial jobless claims for the week comes in at 216K vs 216K estimate
GBPUSD Downtrend May Be Amplified by BoE Credit Assessment, Brexit
NZD/USD technical analysis: 11-week old resistance-line, 61.8% Fibo. question buyers cheering 200-D EMA break

Leave a Reply

Your email address will not be published. Required fields are marked *