The kiwi dollar climbing higher today and is approaching Sep 19th highs set at 0.8433. The NZDUSD closed yesterday lower after the pair climbed during the trading day but eventually closed negatively. But the rallied towards monthly highs today, breaking yesterday’s high. If Sep highs hold as resistance, the pair could be forming a double top formation and in that case we could see a resumption of the bearish trend. Alternatively a break above the Sep highs targets 0.8480 next, followed by 0.8500.
GBPJPY rallying higher since OCT 10th as the pair found support at the 50% fib levels of the rally set from AUG 28th lows to SEP highs. The pair is currently trading at 157.60, current levels could offer some resistance to the pair, and bias is to the upside as long as the pair is trading above the Monday lows at 156.20. A break above current levels exposes 157.97 next, followed by 158.50. Support is at 156.76 initially, a break below exposes the Monday lows at 156.20 next.
USDCHF rallying higher yesterday, but coming off from daily highs at the US trading session and eventually closing the day just moderately higher. The pair has encountered resistance at 0.9177, former support now acts as resistance as sellers emerged at that levels. 0.9170 is a pivotal point with high importance, this level acted as support several times in the past. A move above 0.9177 would shift short term bias to the upside for a deeper retracement in light of latest declines. The long term trend is still to the downside and the preferred strategy is selling the pair as long as the pair is below 0.9177.