
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
EUR/USD has reversed down from the 50-period moving average of 1.1850. Indeed, the 50-period MA is a strong resistance for EUR/USD, just look how many times the pair has failed to cross it in the past. The move below Tuesday’s low of 1.1810 will press the pair down to yesterday’s low of 1.1780.
XAU/USD is has reversed from the 38.2% Fibonacci retracement level of $1815. It’s likely to fall to the $1790 support which lies at the 100-day moving average and the 23.6% Fibo level. It’s unlikely to break it on the first try, but if it does, the way down to late-June lows of $1790 will be open. Resistance levels are at $1815 and $1833.
It’s quite an interesting situation on the NZD/USD chart. The pair has approached the 0.6930 support, which it has failed to cross a few times. Thus, the reverse up may occur. However, the ongoing risk-off mood may press the risky NZD down. If the pair closes below the 0.6930 support on smaller timeframes (H1, H4), it’s likely to keep falling to the next round number of 0.6800. On the flip side, the jump above the 0.7000 psychological mark will push the pair to the 200-day moving average of 0.7050.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
The CAD is dominating the markets after the key rate increase! Read the full report to learn more about trading opportunities with the Canadian Dollar!
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
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