EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
AUD/USD is driven by the news
Information is not investment advice
The Australian dollar will be quite volatile in the upcoming sessions. The near-term pressure on the Australian currency is related to worse-than-expected retail sales and trade balance figures released in Australia on Thursday. Earlier this week, comments of country’s central bank, on the contrary, had pushed AUD/USD up from the 2019 lows. The RBA Governor Lowe will speak on Friday. In addition, volatility will come from the US side of things, as America will publish Nonfarm Payrolls (NFP). Finally, don’t forget the market’s changeable attitude towards the threat of coronavirus which is also driving the AUD.
So far, AUD/USD met resistance around 0.6775. Still, as long as the pair is above the 50-period MA at 0.6735, it is safe from the decline to 0.6680 (previous minimums). On the upside, the next resistance is in the 0.6800/10 area ahead of 0.6850.
NZD/CAD has reached a 200-week MA (0.8950) and formed a “shooting star” candlestick on the D1. On the H4, we see a lower high.
XAU/USD has moved this week in line with its short-term uptrend and the overall long-term uptrend reaching $1 865.
Stocks futures rose on Monday, indicating a higher start to the first session of August.
The Bank of England is expected to keep its monetary policy unchanged this Thursday.
US cases jump by 67.000, US agrees to pay Sanofi and GSK 2.1 billion dollars for 100 million doses of coronavirus vaccine.