Home » » Important Pivot Levels on the EURUSD, GBPUSD, AUDUSD and NZDUSD for 06/27/2016
The EUR/USD opened with a 74-pip gap on Sunday, but that gap has been filled now and the 1.107 level has turned into a double resistance zone.
The GBP/USD opened with a 250-pip gap that still hasn't been filled. The market has sold-off another 300 pip since the open and the 1.3236 price level - which marked the low point of the Brexit crash - has now turned into resistance. This is a critical level as the market has failed to break above this level several times since the open.
AUD/USD: 0.7445, 0.7390 and 0.7360
The 0.7445 area was used as support last Friday and the market gaped under this level on Sunday. Since the open, the 0.7445 area has acted as resistance twice already. The 0.7390 area was also quite active last week and this level showed its strength during the London session again, acting as support another two times. The 0.7360 area - which I outlined in last week's post - is still valid; this level is now acting as resistance.
NZD/USD: 0.715, 0.71 and 0.7015
The AUD/USD and NZD/USD are very correlated pairs and both pairs have managed to fill their Sunday gaps. The 0.71 area is still a formidable level - this pivot prevented the market from rallying higher several times since the start of the week. Last Friday, the importance of the 0.7015 pivot area was outlined on the NZD/USD charts, and this level is being used by the market today as well.
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