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6 May 2020

AUD/NZD Price Analysis: Bullish trend firm but technicals sign correction ahead

AUD/NZD little changed after New Zealand jobs report and Australian retail sales.
Bullish trend intact but correction likely ahead of the Asian session.

The AUD/NZD pair is about to post the third daily gains in a row. The dominant bullish trend remains in place, but ahead of the Asian session, technical indicators point to a retracement.

The rally found resistance around the 1.0665 area; if it breaks above the next target stands at 1.0695. A daily close above 1.0715 would sign more gains ahead.

The immediate support at 1.0600 (uptrend line) should limit losses; below comes the 21-day moving average around 1.0570. A daily close under 1.0570 would deteriorate the outlook for the Aussie, targeting 1.0540.

audnzd

May 6, 2020

EUR/GBP bulls in charge as Brexit risks loom

EUR/GBP is currently trading a 0.8747, +0.39% on the day having travelled from a low of 0.8697 to a high of 0.8756. The pound is taking most of the he

GBP/JPY downtrend accelerates below 132.00

The pound has depreciated against the Japanese yen for the fourth consecutive day on Wednesday, increasing its negative momentum after breaking recen