AUD/USD, NZD/USD, AUD/JPY
AUDUSD recovered almost 50% of the late February to early April losses over the past 2 weeks, reaching 7761.
NZDUSD higher to 7180.
AUDJPY first resistance at resistance at the April high of 8435/45 in the 2 month sideways trend.
Daily Analysis
AUDUSD minor resistance at 7740/45 before stronger resistance at 7765/75. A good chance of a high for the day here. Shorts need stops above 7785. A break higher targets 7820/25.
Strong support at 7715/05 & again at 7680/70. Longs need stops below 7655.
NZDUSD holding first support at 7130/20 today re-targets 7155/60 before a retest of last week’s high at 7175/80, perhaps as far as minor resistance at 7200/7205.
Strong support at 713/20 & again at 7095/85. Longs need stops below 7070.
AUDJPY first support at 8385/75 could hold the downside in the morning session at least. Longs need stops below 8365. A break lower to targets 8350/40 perhaps as far as 8310/00.
A break above 8455 targets 8475/80.
Chart
The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.