Today traders await the US inflation data to be out at 15:30 MT. Jump in to get fresh trade ideas for today!
Market updates on June 26
- Bitcoin is a rocket! During the Asian trading session, the price for Bitcoin jumped above the $11,000 and $12,000 levels. The digital asset nearly reached the $13,000 level. Bulls need to push the BTC above the $12,927 level to continue the surge. The next resistance is placed at $13,177. Bears need to pull the pair to the support at $12,080 to take over the market.
- During the RBNZ meeting, the central bank kept its interest rate unchanged and said that further easing would be needed to provide support for the economy. The dovish comments pulled the kiwi below the support levels at 0.6626, 0.6615 and made it test the 0.6598 level on H4. However, NZD/USD managed to correct to the upside. At the moment it is trying to stick above the 0.6666 level. If this level is broken, further resistance levels are placed at 0.6681 and 0.6693.
- Reportedly, China is going to halt all imports of meat from Canada. The news affected the CAD. The USD/CAD pair has tested the resistance at 1.3193 on H4. The next resistance lies at 1.3227. If this level is broken, bulls will target the resistance at 1.3266. From the downside, the levels are 1.3155, 1.3132 and 1.3116.
- After the Fed members soften their tone in the speeches, fading the fears of the aggressive rate cuts, the USD was supported. EUR/USD has fallen from 1.1395 to 1.1353 level. If the EUR strengthens back, the resistance levels lie, as follows at 1.1375, 1.1387 and 1.1395. On the other hand, bears will target 1.1353, 1.1344 and 1.1335 levels.
Key events ahead:
US core durable goods orders - 15:30 MT time.
The American inflation rate is announced on Tuesday at 15:30 MT. It’s an important event for traders as it will impact hugely currency pairs with the USD.
In this article, you'll find the latest news and tech analysis of EUR/USD, gold, and GBP/USD!
US retail sales will be out on Thursday, April 15, at 15:30 MT. It is a significant release for traders as it will impact the US dollar.
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The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.