NZD/USD Technical Analysis
The New Zealand dollar has jumped to kick off the trading week on Monday, touching the 200-day EMA, but interestingly enough, we see the Kiwi dollar roll right back over again. By doing so, this is a market that is showing you there’s real concern out there right now, as the peace agreement between the Iranians and the Americans, quite frankly, the more details that are released by each country, the less likely it looks, I think, to many people to be signed. That being said, we are in a consolidation area right now with the 0.58 level being the beginning of significant support and the 200-day EMA above being resistance.
USD/CAD Technical Analysis
The US dollar initially fell against the Canadian dollar, but it has bounced a bit to show signs of life as we are now attacking the 1.40 level. This may be a little bit of a knock-on effect from the oil markets falling off. That being said, this is a market that the 1.3950 level underneath probably ends up being a bit of a floor. So, I think we bounce around in this 50-point range, but it certainly looks like we are more likely than not to break out to the upside than down.
USD/JPY Technical Analysis
The US dollar has dropped a bit early during the trading session as rates, of course, dropped in America, and that helped. But we’ve seen it turn right back around, and I think this is still a pair that is going to be looking to break out to the upside before it’s all said and done. With that, the 50-day EMA I think, is your floor. If we can break above the 161 level, I think that’ll clear all of the last vestiges of resistance, and it opens up a longer-term buy-and-hold type of move.
NZD/USD Price Forecast
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