Yahoo Finance Dovish Minutes kill the USD. Bullish movements on the EURUSD, AUDUSD and NZDUSD
Dovish Minutes caused a reversal from the USD, which on few instruments was in line with the signs from the technical analysis. For example EURUSD, where the price was under the influence of the two bullish flags and a false breakout below the 1.173 support. Currently, the price is aiming 1.186, which seems like a very strong resistance.
AUDUSD used the correction equality pattern and a long-term up trendline to climb higher. Currently, the price is testing the 38,2% Fibonacci and the mid-term down trendline. The bullish breakout here can trigger a buy signal for around 120 pips.
NZDUSD recently made new yearly lows but failed to hold the price below a very important resistance. That creates a chance for a reversal, especially that we denied the bearish flag and broke the mid-term down trendline. Short-term sentiment is positive.
This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis
This article was originally posted on FX Empire
