Technical outlook May 14 highlights mixed trends across major currency pairs. NZD/JPY maintains its bullish bias above key support, while technical outlook May 14 also reveals renewed selling pressure on EUR/GBP, EUR/CAD, and GBP/AUD. As momentum shifts and resistance zones hold firm, traders are closely watching for breakout or breakdown signals. This report breaks down today’s price action with key levels and momentum insights.
Technical outlook May 14 highlights mixed trends across major currency pairs. NZD/JPY maintains its bullish bias above key support, while yesterday’s technical analysis showed early signs of weakening in EUR and GBP pairs. As momentum shifts and resistance zones hold firm, traders are closely watching for breakout or breakdown signals.
NZD/JPY Technical Outlook
NZD/JPY Stays Bullish – Is a Pullback Brewing?
NZD/JPY holds above 86.54 after minor rejection at 87.50. RSI dips from overbought zone, suggesting short-term cooling in bullish momentum.
NZD/JPY continues its bullish trajectory, recently reaching a local high around the 87.50 region before facing minor rejection. The price remains supported above 86.54, backed by a green SuperTrend structure that confirms ongoing upside bias. However, RSI, while still above 60, is starting to turn lower from overbought levels, indicating a potential pause in momentum. If price stays above 86.54, another move higher may follow. But a close below this support could trigger a correction toward the next level near 85.43.
EUR/GBP Technical Outlook
EUR/GBP Slides Lower – Oversold, But Still Bearish
EUR/GBP trades below 0.8450 with RSI near 31. SuperTrend remains bearish; breakdown below 0.8400 may fuel further downside.
EUR/GBP continues to trend lower, firmly trading below the key resistance levels at 0.8449 and 0.8451. The SuperTrend indicator confirms ongoing bearish momentum, while RSI sits deep in oversold territory around 31.26. This suggests strong weakness but also leaves room for a potential technical rebound. However, unless the pair decisively reclaims the 0.8450 area, any upside move is likely to be corrective. A confirmed break below 0.8400 could accelerate the selling pressure and extend the current downtrend.
EUR/CAD Technical Outlook
EUR/CAD Rebounds, But Bears Still in Control Below 1.5675
EUR/CAD recovers from 1.54 but struggles at 1.5675. RSI at 46 and red SuperTrend signal bearish bias unless price breaks higher.
EUR/CAD has staged a short-term recovery after rejecting the 1.5400 support zone, but upward momentum appears limited as price fails to break through the 1.5675 resistance level. The red SuperTrend cloud still reflects a bearish structure, while RSI remains below the neutral zone at 46.45, signaling a lack of bullish strength. If the pair cannot stay above 1.5570, a renewed decline toward 1.5400 is likely. A daily close above 1.5675 would be required to shift the bias and challenge the prevailing bearish trend.
GBP/AUD Slips Below 2.06 – Bearish Pressure Builds Again
GBP/AUD trades near 2.0530 with RSI at 40. Bearish SuperTrend reappears; break below 2.0530 could target 2.0450 unless 2.0650 is reclaimed.
GBP/AUD failed to sustain above the 2.0600 level and is now hovering just above the 2.0530 support. The reappearance of the red SuperTrend cloud signals renewed bearish pressure. RSI is weak at 40.41, reinforcing the downside bias. A confirmed break below 2.0530 would likely expose the next downside target at 2.0450. On the other hand, bulls must reclaim and close above 2.0650 to invalidate the current bearish setup and shift sentiment.
Tags:
Leave A Comment