EUR USD, “Euro vs US Dollar”
The EUR/USD pair resumed its decline and right now is getting closer to the 4/8 level. If later the price rebounds from this level, it may start a new correction. In this case, the target will be at the 5/8 level and the H4 Super Trend. If later the pair rebounds from these levels as well, the market may continue falling.
At the H1 chart, the 0/8 level may provide resistance. If later the pair rebounds from this level, it may start a new local correction to reach the 2/8 one.
NZD USD, “New Zealand Dollar vs US Dollar”
The NZD/USD pair rebounded from the 8/8 level and then Super Trends formed “bearish cross”. On Wednesday, the local correction with the may take place; its target is at the 6/8 level. If later the price rebounds from this level, bears may try to test the 4/8 one.
As we can see at the H1 chart, the pair rebounded twice from the 0/8 level and, as a result, started the current ascending correction. Consequently, in the nearest future the market may move upwards to reach the 4/8 level. After reaching this level, the price may resume its decline.
RoboForex Analytical Department