Technical analysis - Page 451

• EUR/USD broke resistance zone • Further gains are likely EUR/USD recently broke the resistance zone lying between the resistance level 1.1720, resistance trendline of the daily down channel from April and the 38.2% Fibonacci correction of the previous downward.

The Australian Dollar (AUD) dripped after the Reserve Bank of Australia (RBA) held its interest rate steady at the record low of 1.5%. The RBA is waiting for signs of wage growth which should improve consumer spending and support inflation..

• NZD/USD rising inside impulse wave (3) • Further gains are likely NZD/USD has been rising in the last few trading sessions inside the impulse wave (3) which started earlier from the support zone lying between the major support level.

GBPUSD The GBPUSD pair has dropped into support at 1.32000 and rallied out last week to touch the high at 1.33982 close to the 1.34000 level. This sets up a 200 pip trading range for the moment. The topping pattern.