Euro Buoyant Ahead Of German CPI Data

• 29 Mar 2018

EUR/CHF

The EUR/CHF pair has reached overbought conditions and is approaching a previous market top at the 1.180 price level. At the same time, RSI has reached the 70 resistance line with selling pressure rising in yesterday’s trading. It seems likely that the pair will reject the price level once again.

Impact event: German CPI data will be released at 14:00 GMT+2 and will impact all Euro pairs.

GBP/AUD

The GBP/AUD pair appears to be starting a price reversal. Selling pressure has increased as bearish sentiment has begun to dominate the pair. RSI is also testing the 70 resistance line to the downside and a break will confirm the bearish bias.

GBP/CHF

The GBP/CHF pair has hit an uppermost resistance level at the 1.344 price line. RSI has flattened in overbought territory which may suggest that the pair will once again reject the price level. MACD appears to be flattening which could suggest the pair is giving way to bearish momentum.

AUD/NZD

The AUD/NZD has begun a price and momentum reversal. Price action has broken back above the lower Bollinger band and is now approaching the mid-line. RSI has a sharp upward trajectory and MACD is undergoing a momentum reversal.