Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
Extreme volatility of the NZD/JPY
Information is not investment advice
Today started with extreme volatility for the New Zealand dollar against the Japanese yen. On the H1 chart of the NZD/JPY, the price made a steep drop from the 69.38 mark to the support level of 68.97 within several hours from 0:00 to 06:00 MT time. Then it reversed straight back and passed all the bullish thresholds, aiming at the resistance level of 69.61. If the rise continues, the further resistance levels may be set at 69.90 and the range of 69.98 – 70.02. Otherwise, the range of 69.31 – 69.35 and the level of 68.97 will be supporting the price from the downside.
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.