Chart of the Day -GBPNZD – (April 2nd 2019)
We are not sure if the upper end of the 1.9000-1.9550 channel will be broken, but it is a risk this time around as the GBP is starting to look constructive against other pairs as well.
We are not sure if the upper end of the 1.9000-1.9550 channel will be broken, but it is a risk this time around as the GBP is starting to look constructive against other pairs as well.
There is no doubt that the EURJPY has a lot of support from the 123.80-124.00 level, but the recent shallow bounce and flag pattern suggest a break down may happen soon.
The DXY is in the middle of the range, and also testing the 61.8% retracement.
Gold has spent the month of March moving higher in a channel, but the last couple sessions we have stalled at the 61.8% retracement of the February highs to March lows at $1321.
The break higher continues in the 10yr bond market however the 161% extension is being tested.
The AUDNZD has been in a steep downtrend after breaking below the 1.0500 level.