Euro rally fizzles a...来自Fellin

Euro rally fizzles above 1.14 figure, prices drop back to trend support Dominant near-term uptrend from May bottom remains intact for now Bearish conviction probably needs a break of support near 1.11 mark

已编辑 04 Jul 2019, 16:19

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The New Zealand Dollar put in a Bearish Engulfing candlestick pattern on a retest of support-turned-resistance in the 0.6699-0.6727 area, hinting that the upswing of mid-June lows may have topped. Initial support line in the 0.6653-73 zone, with a break below that on a daily closing basis opening the door for another challenge of the 0.6575-91 region.

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The Australian Dollar often finds itself cast in the role of favored China risk proxy given its home nation’s huge raw material export links with the world’s number two economy. However, at present it seems likely that interest rate differentials with the US are a much more prominent AUDUSD driver. It certainly didn’t move much on the Chinese data.

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