Current Situation On The EUR/USD, AUD/NZD And EUR/AUD

EUR/USD is paying a very high price for this optimism which we could see on Monday. They could not hold the 1.0840 as a support and closed the weekend gap. That was not all, as the price broke the lower line of the channel up formation and at the same time, the neckline of the big iH&S formation. Those two are definitely bearish signals.

AUD/NZD beautifully defended the long term down trendline as a closest support. The bullish movement seems sustainable and after the bounce the price is heading higher. Not much to add here. Positive sentiment all the way long.

EUR/AUD is quite the opposite. We have a false breakout here leading to a bigger drop. Soon we will test a mid-term up trendline but chances for a breakout are quite high.

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