NZD/USD

NZD/USD has stabilized near $0.7450 after sliding back from $0.7480. It has held $0.7400 support so far but looks vulnerable with RSI breaking 50 to indicate a downturn in momentum. Next potential support near $0.7380 then $0.7280 should current support fail.

AUD/USD

AUD/USD continues to drift toward the bottom of its $0.7550 to $0.7925 trading range, sliding from $0.7640 under $0.7600 overnight. On a breakdown the $0.7500 round number could be tested. RSI under 50 indicates downward pressure building.

USD/JPY

USD/JPY is sitting just below 120.00 trying to decide which trading channel boundary to retest, 121.75 or 117.75. RSI sitting on 50 indicates sideways momentum prevailing.

EUR/JPY

EUR/JPY is bouncing around between 128.60 and 129.00 with next resistance near 130.00 and next support near 126.90. RSI rolling down from 50 after a failure indicates downward momentum starting to increase again.

By Theodoros  Batsoulis
Technical Analyst
Risk Market
www.riskmarket.co.uk