In today’s Forex Forecast, we offer the technical outlook for EUR/USD, AUD/USD, USD/ZAR and Bitcoin, with Eddie Tofpik, Head of FX at ADM Investor Services.
EUR/USD: Further downside
Tofpik looks at the technical charts for EUR/USD, and says that further downside for EUR/USD is a possibility. He believes that a break below 1.10 will see a crack down towards 1.0750. On resistance, he notes that the moving averages and the fib levels are acting as big upside barriers.
AUD/USD: 0.70 calling?
Tofpik presents a bearish case for AUD/USD, expecting a move lower towards 0.70.
USD/ZAR: Going higher
USD/ZAR remains a good market to trade, believes Tofpik, and believes that the cross is heading higher. Watch the video for the key levels.
BTC: The Blockchain technology in cryptocurrencies will likely revolutionalise the financial markets. Watch the video for further technical insights on BTC/USD.
