Stocks, oil, and risk currencies gained on Tuesday as the formal go-ahead for US President-elect Joe Biden to begin his transition burnished a November already boosted by Covid-19 vaccines.
NZD/USD can test lower levels
Information is not investment advice
NZD/USD met resistance around 0.6875 (resistance line connecting February highs). Above this area, the pair will face more resistance levels rather close nearby (0.6900, 0.6940 - previous highs). The decline below 0.6830 will confirm a “Double top” and make the pair move towards the support line connecting this year’s lows (0.6755).
EUR/USD fell below 1.1850 after reaching 1.1920 on Monday. The pair consolidated after the initial bearish move.
USD/CAD remains within a downtrend. As a result, selling the pair as it turns down from resistance is the best strategy. Support lies at 1.3125.
U.S. stocks are set to open lower later, on a combination of the pandemic news and the downbeat news from Tech’s Old Guard late on Thursday.
Oil fell below $52.00 because investors expect a weaker oil demand amid rising Covid-19 infections and new lockdowns.
Asian equity markets traded cautiously after the mixed lead from Wall St where most indices stalled at record levels