Antipodeans jump on the Fed Chair comments about the rate cut

Antipodeans jump on the Fed Chair comments about the rate cut

Oh, what a rise! Antipodeans jump on the Fed Chair comments about the rate cut. 

  • The bullish candlesticks on H4 of both NZD/USD and AUD/USD look impressive and give us a fear of missing out. That's not a surprise, as the Fed chair Jerome Powell signaled openness to rate cut due to trade uncertainties and weaker economic outlook. His remarks weakened the USD and pushed other currencies higher against it. 
  •  NZD/USD jumped by 48 pips to the resistance at 0.6652. The next key resistance will lie at 0.6666. From the downside, the support levels are 0.6634, 0.6626 and 0.6619.

NZDUSDH4.png

  • AUD/USD tested the resistance at 0.6960 (100-period SMA). The next resistance will lie at 0.6968. In the case of the fall, the first support will lie at 0.6949 (200-period SMA). After the breakout, expect the further fall to the 0.6930 level.

AUDUSDH4.png

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USD/MXN: optimistic on the vaccine coming?
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During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?

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S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.

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