AUD/USD beats strong resistance at 7765/75 [Video]

Jason Sen DayTradeIdeas.co.uk

AUD/USD, NZD/USD, AUD/JPY

AUDUSD beats strong resistance at 7765/75 overnight targeting 7820/25.

NZDUSD finally reaches the target & strong resistance at 7205/15.

AUDJPY bottomed exactly at first support at 8380/70 as expected to retest first resistance at the April high of 8435/45 in the 2 months sideways trend.

Daily analysis

AUDUSD through 7765/75 targeting 7820/25, perhaps as far as resistance at 7860/70.

First support at 7760/50. Below 7740 risks a slide to 7715/05.

NZDUSD should struggle to beat strong resistance at 7205/15 this morning in overbought conditions. Shorts need stops above 7225. A break higher targets 7245/50 & 7260/70 with resistance at 7285/90.

First support at 7180/70 but below 7160 can target support at 7130/20.

AUDJPY tests strong resistance at 8430/40. A break above 8455 targets 8475/80 & above 8490 look for a retest of the March high at 8535/45.

First support at 8380/70 could hold the downside again today. Longs need stops below 8360. A break lower to targets 8320/00.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

EUR/USD holds firm near 1.1850 amid USD weakness

EUR/USD remains strongly bid around 1.1850 in European trading on Monday. The USD/JPY slide-led broad US Dollar weakness helps the pair build on Friday's recovery ahead of the Eurozone Sentix Investor Confidence data for February.

GBP/USD hovers near 1.3600 as UK government crisis weighs on Pound Sterling

GBP/USD moves sideways after registering modest gains in the previous session, trading around 1.3610 during the European hours on Monday. The pair could come under pressure as the Pound Sterling may weaken amid a fresh government crisis in the United Kingdom.

Gold remains supported by China's buying and USD weakness as traders eye US data

Gold struggles to capitalize on its intraday move up and remains below the $5,100 mark heading into the European session amid mixed cues. Data released over the weekend showed that the People's Bank of China extended its buying spree for a 15th month in January. Moreover, dovish US Fed expectations and concerns about the central bank's independence drag the US Dollar lower for the second straight day, providing an additional boost to the non-yielding yellow metal.

Cardano steadies as whale selling caps recovery

Cardano (ADA) steadies at $0.27 at the time of writing on Monday after slipping more than 5% in the previous week. On-chain data indicate a bearish trend, with certain whales offloading ADA. However, the technical outlook suggests bearish momentum is weakening, raising the possibility of a short-term relief rebound if buying interest picks up.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.