EUR/USD, GBP/USD and NZD/USD all gain ground after recent declines
EUR/USD, GBP/USD and NZD/USD are all gaining ground this morning, yet with recent declines raising questions, key upside levels need to be overcome.
EUR/USD continues uptrend as pair surges higher
EUR/USD has been trending upwards over the course of the past two weeks and despite weakness at the beginning of the week, it looks like that trend is back on track.
With the price continuing to move higher, we are looking for a move into the $1.1348 swing high for a continuation signal. This trend is expected to continue as long as we do not break into a new lower low.
GBP/USD regaining ground after break below notable support level
GBP/USD has been regaining ground after a disappointing Monday, with a better-than-expected UK jobs report providing a boost for the pound.
The decline below $1.2668 points towards a possibility that this rally will falter, and thus it makes sense to look for a rise through $1.2763 as a precursor to further upside.
NZD/USD rebounding towards near-term swing high
NZD/USD has been declining sharply since seeing price fall below the $0.6611 swing low.
However, we are seeing a move towards the $0.659 swing high which could be a precursor to further upside to come. As such, the key today is whether we break that $0.659 level or not. Until we see that level broken, there is a good chance we will see the pair turn lower again.
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