EURAUD
EURCAD
EURNZD
EUR/AUD EURAUD bounced off of a long term trendline support from the 12/6/05 low of 1.5609, as daily RSI has moved into bullish territory over 50. The pair has encountered resistance at the 50.0% fibo of 1.6364 1.7352 at 1.6860, and if the price should probe again and break the resistance, the 7/3 high of 1.7254 could be the next target. A move to the downside could bring the price to the 61.8% fibo of 1.6364 1.7352 at 1.6745.
EURCAD EURCAD continued its rally too 11 month highs after breaking from an ascending triangle on the daily charts, however, the push higher has been stymied a resistance trendline formed from the 12/23/05 high of 1.6702. Daily and weekly MACD are accelerating at a higher slope, so the pair could break the trendline and make a move for the 50.0% fibo of 1.2448 1.6972 at 1.4713. A retracement, though, could target the confluence of the 7/19 low and 61.8% fibo of 1.2448 1.6972 of 1.4172 / 78.
EURNZD EUR/NZD continued its rally this week, but with RSI on the hourly in overbought territory, it could be time for a retracement. A move downwards could bring the pair back to the 78.6% fibo of 1.2937 1.2458 at 1.2835, which served as resistance earlier this week. However, should the pair gain, the 6/6 high of 1.2937 could be the next target.
