Daily Market Analysis

After its peak at the end of June, BTC/USD has been constantly forming lower highs and making significant legs to the downside.

EUR/GBP met resistance in the 0.8990 area. It failed to overcome this obstacle for the second week in a row.

EUR/CAD made a big breakout to the downside. On W1, you will see that it broke the support line from 2015.

NZD/CHF formed a bearish candlestick with a long lower shadow on W1.

The pair failed to close above the declining 100-day MA on Thursday forming a candle which is very similar to a “shooting star”.

XAU/USD, also known as spot gold, rose to the 1,440 area - the same zone that stopped its advance last week.

It looks like a bearish “Bat” pattern is formed on the chart of USD/CHF.

NZD/USD got rejected from the 200- and 100-day MAs in the 0.6710-0.6995 area.

The Reserve Bank of Australia is expected to cut its Cash Rate from 1.25% to 1% on Tuesday, July 2.

AUD/CAD is consolidating in the narrow range between 0.92 and 0.9160 for the fifth day.

AUD/NZD has been forming a series of lower highs since April. This week the pair settled below the 100-day MA at 1.0500.

EUR/NZD made a top in June and went down going through the 50-day MA (1.7035) and the support line from March lows.