Don’t waste your time – keep track of how NFP affects the US dollar!
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On H4 of NZD/JPY, the pair rebounded from the low at 70.43 and moved up. Up to now, it has been trading near an important level of 70.68. If the pair sticks above it, the next level to break is the upper boundary of the descending channel. If bulls succeed to do that, we will see a correction of the downtrend. The first resistance is at 70.90. As soon as the pair is closed above it, we will see a further rise.
However, the pressure is strong until the pair is in below the upper boundary of the channel. So, the rise may be limited. A break below 70.68 will lead the pair to 70.43.
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.
Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.
The JPY is the strongest and the NZD is the weakest. Jump in for the fresh analysis!
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.
Bank of England Governor Andrew Bailey delivered a speech today. Let’s discuss what it means for a trader.
Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.
