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Let’s see what they will agree on.
AUD/USD surged to the resistance at 0.7465 but the weak data pulled it down to the support at 0.7390. The trading isn’t extensive and it shows the uncertainty of traders. If the USD weakens, the pair will be able to recover. Otherwise, it will go down. The trading within the 0.7390-0.7465 channel is anticipated.
Up to now, Brent has been trading near $74. 100-day MA is the support for the price. Positive economic data will pull the price to $75.15. Otherwise, there are risks of the fall to the pivot point at $73.15.
WTI can’t leave the $67.25-69 channel. 50-day MA is the strong resistance for the oil benchmark. Positive news will pull the price above the resistance at $69. The next one will lie at $70.55. Otherwise, the oil benchmark will fall to the pivot point at $67.25. The next support will lie at $64.85.
There are no significant changes in moves of the currencies.
That’s all for today! Follow market news with FBS!
Jump in to know the key market events and trading ideas for this week!
USD’s rally takes a pause, while riskier assets are modestly rising.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
PMI reports from the EU, the UK, and the USA will be released during the day!
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