The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
The most traded pair has fallen to lows unseen since July 27 just below 1.1700. Since the pair has broken this key support, it’s likely to decline further to the next support at 1.1600. In the opposite scenario, if it manages to jump above 1.1700, the way to 1.1755 will be open.
The yellow metal has dropped after the Fed’s report. It has just broken the low of August 12 at $1 880, therefore, the doors are open to the next round number at $1 870. In the opposite scenario, if it rises above the key psychological mark of $1 900, it may surge to yesterday’s high of $1 920.
The British pound is moving down. It has just crossed 100- and 200-day moving averages at 1.2730. That’s why traders expect the pair to plummet to the next support of 1.2600 and then to the low of July 16 at 1.2550. On the flip side, the move above the 1.2730 mark will clear the way to 1.2800.
The kiwi has been declining for the third day in a row. It has just broken through the 50-day moving average and the significant support of 0.6600. That’s why the way to the low of August 24 at 0.6525 is open. Resistance levels are at the high of July 30 and September 18 – at 0.6700 and 0.6790, respectively.
The day is full of economic releases! Stay tuned!
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