NZDUSD – New Zealand Dollar Holds Uptrend Support Vs US Dollar
Key Points
• The New Zealand Dollar is holding a couple of important supports like 0.7050 against the US Dollar.
• The NZDUSD pair is following a decent ascending channel with supports at 0.7070 and 0.7050 on the hourly chart.
NZDUSD Technical Analysis
The New Zealand Dollar gained a lot of pace recently and moved above the 0.7020 and 0.7080 resistance levels against the US Dollar. The NZDUSD pair is moving nicely above the 0.7050 support and the 21 simple moving average.
The pair is currently trading near a major bullish trend line at 0.7080, but the most important support one is near a decent ascending channel at 0.7050 on the hourly chart.
There is a chance of a minor dip towards the 50% Fib retracement level of the last wave from the 0.7035 low to 0.7115 high at 0.7077 where it may find buyers for an upside move.
- Guest Post Submitted By Aayush Jindal from the FXTimes Team
USDJPY – Can US Dollar Recover Above 110.00 Vs Japanese Yen?
Key Points
• The US Dollar is under heavy selling pressure and trading below 110.00 against the Japanese Yen.
• There it a monster bearish trend line forming with resistance at 109.60 on the hourly chart of USDJPY.
USDJPY Technical Analysis
The US Dollar declined heavily recently and moved below the 110.20 and 110.00 support levels against the Japanese Yen. The USDJPY pair traded as low as 109.26 where it is finding support and currently attempting an upside break.
On the topside, there is a monster bearish trend line forming with resistance at 109.60 on the hourly chart. The trend line also coincides with the 23.6% Fib retracement level of the last decline from the 110.76 high to 109.26 low.
Above the trend line resistance at 109.60, the next hurdle is around the 21 hourly simple moving average at 110.00. It is also the 50% Fib retracement level of the last decline from the 110.76 high to 109.26 low. So, it won’t be easy for buyers to break the 110.00 resistance once there is a close above 109.60.
- Guest Post Submitted By Aayush Jindal from the FXTimes Team
