Asia Pacific Currencies Active At Start Of Trading Week

• 16 Apr 2018

AUD/CAD

The AUD/CAD pair is testing the 0.980 price level after several bullish candles indicate a reversal in price action. RSI has also moved away from the 30 support level to confirm a momentum reversal. Buyers will likely target the 0.990 price level.

GBP/NZD

The GBP/NZD pair has broken the 20- period EMA and is now testing the 1.940 price level. Momentum indicators confirm bullish sentiment, as RSI has an upward trajectory and MACD begins a momentum reversal.

AUD/NZD

The AUD/NZD pair has begun a bullish reversal which has resulted in the pair testing the 20 period EMA. RSI has a sharp upward trajectory, however, the 20- period EMA has been acting as a support level for the pair. Therefore, a break of the EMA is required to provide weight to the bullish move.

EUR/CHF

The EUR/CHF pair has reached overbought conditions and there are signs that the bullish momentum may not last. A series of doji and inverted hammer candles could indicate a deceleration in the bullish trend. RSI has broken the 70 resistance line and MACD has stalled in bullish territory. A break below the 70 line on RSI and a number of bearish candles would be required to mark the start of a reversal.