Dollar Versus Euro and Kiwi October 13th

FX Strategy Video > Currency Pairs Analysis

EUR/USD rose rapidly again on Wednesday as traders continue to show belief in the possibility of a solution in the EU. However, the technical charts show that the rally might be running into its first major test: The gap from a few weeks ago, combined with both the 1.38 level and the 50% retrace.

NZD/USD rose as well, but faces similar problems: A round number which has shown itself to be massive, (0.80) and the 50% retrace that sits right above it. Because of this, we could see a pullback and continuation of the trend.

Published on 12th of October 2011
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