NZDUSD has been on a selloff but it looks like a reversal may be in order. Price is forming an inverse head and shoulders pattern on its 4-hour time frame, with an upside break of the neckline at the .6600 handle likely to send the pair up by 200 pips or the same height as the formation.
The AUDUSD pair initially fell during the course of the day on Thursday, but then turned back around to form a bit of a hammer.
The EURUSD pair went back and forth during the course of the day on Monday, as we continue to struggle to keep any gains at this point in time.
The AUDUSD pair went back and forth during the day here on Monday, as we continue to see interest somewhere near the 0.72 level.
The USDJPY pair went back and forth during the day on Friday essentially settling nothing.
AUDUSD stays in the trading range between 0.6907 and 0.7439. Resistance is at 0.7439,
EURUSD is facing 1.0462 (Mar 13 low) support, a breakdown below this level will indicate that the long term downtrend
The EUR/USD pair went back and forth during the course of the day on Thursday, forming a fairly neutral candle.
The AUDUSD pair rose slightly during the course of the day on Thursday, as we continue to see buying pressure underneath.
AUDUSD has been trending lower on its 1-hour forex chart, moving inside a descending channel connecting the highs and lows of price action since last month. Price is currently testing the resistance at the .7100 major psychological level and might be due for a move back to the bottom.
