Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
Aussie and Kiwi drop vs. stronger US dollar
On Thursday, the Australian and New Zealand dollars tumbled against their US rival, as the major American currency remained backed by the issue of positive American data earlier in the week.
The currency pair AUD/USD slumped 0.20%, hitting 0.7655.
The US dollar remained backed after on Wednesday, the US National Association of Realtors told that its pending home sales soared by 5.5% the previous month, thus more than doubling expectations for a soar of 2.4%.
The data arose just a day after the US Consumer Board told that its consumer confidence index inched up to an almost 17-year peak of 125.6 in March from 116.1 last month, which is far above hopes for an outcome of 114.
The greenback was also backed after on Monday Chicago Fed Bank President Charles Evans along with Dallas Fed President Robert Kaplan stressed that the Fed will continue its current monetary tightening policy.
The currency pair NZD/USD decreased 0.17%, trading at 0.7019.
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.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.