AUDUSD shorts at 6875/85 target 6860 (hit) with first support at 6849/45. This could hold initially but a break lower is expected eventually for 6830/25, perhaps as far as 6820/15. Further losses look for 6795/90. Shorts at resistance at 6875/85 need stops above 6899. A break higher targets 6910 & 6930/40.
NZDUSD rejected 6460/70 to generate a sell signal. Holding below first resistance at 6410/20 keeps the pressure on for the best support today at 6385/80. A break below 6370 is the next sell signal targeting 6360 & support at 6340/35. Gains are likely to be limited but above 6425 could retest 6450. Sell at 6460/70 if we make it (higher unlikely!!) Stop above 6480. A break higher is a buy signal targeting 6500 & 6520/30.
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.