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EURUSD – Inverted Pin Bar off Dynamic Resistance
After failing to find new buyers sub 1.4000, the Euro sold off heavily to end last week. Last week we wrote about selling on a pullback below the key ‘role reversal level around 1.3820. After pulling back into this level, the pair formed an inverted pin bar.
If this level holds, the pair should test 1.3750 and 1.3700 in the next 48 hours, with a possible larger move down to 1.3500. A daily close above this will change our short term bearish bias.
NZDUSD – Barely Holding Key Support
After breaking above the several month resistance of 8520, the pair has come back to really test the bulls at this level. After …