NZD/USD pair tests support
The New Zealand dollar attempts to halt the slide after falling from the level seen last July. Despite a widespread cautious mood, the kiwi seems to have found a foothold around 0.6050. A tentative break above 0.6130 from the start of a limited sell-off could be the beginning of a turnaround, and a convincing breach would stir up momentum and propel the price. 0.6000 is the first support in case of a further downward spiral.
USDCHF retreats from monthly high
The US dollar pulled back after closing the October rally, which saw over 200 pips added to the value. The price soared to a monthly high at 0.8670, suggesting that a bearish reversal could be in the making. In the meantime, the RSI’s repeatedly overbought condition indicates an overextension in the indicator and could reveal a slowdown in momentum. A fallback cannot be excluded if buyers start to take profit. 0.8600 would be the first support to gauge the strength of follow-up interests.
EURJPY bounces off support
The Euro softened after a break past the last resistance of 163.40. On the chart, the price is trying to hold onto its gains after bouncing away from 160.00 earlier this month. A bullish breakout could send prices to 166.50 at the previous swing high, putting the price in the position of a more meaningful rally. Only a slide below 158.40 could resume the trajectory to the downside.
