
The Reserve Bank of Australia will make a rate statement on March 2, at 5:30 MT time.
EUR/USD has failed to cross the support of 1.2100. If it manages to break this level finally, the way down to the low of December 18 at 1.2050 will be clear. On the flip side, the move above the 50-period moving average of 1.2130 will drive the pair to the high of January 27 at 1.2170.
GBP/USD has bounced off the middle line of the Bollinger Bands indicator at 1.3700. If the pair drives above yesterday’s high of 1.3750, the way up to the next round number of 1.3800 will be open. Support levels are 1.3700 and 1.3650.
USD/JPY has escaped the channel it has been trading inside for a year. Today it has even jumped above the 200-day moving average of 104.50. If the bulls keep momentum, the price may be driven to the next resistance of 105.00. Support levels are at the psychological mark of 104.00 and at the low of January 21 at 103.35.
AUD/USD retreated to the 200-period moving average of 0.7665. It should be just a retracement ahead of further falling. On the way down, the pair may meet support levels at yesterday’s low of 0.7600 and low of December 28 at 0.7570.
The Reserve Bank of Australia will make a rate statement on March 2, at 5:30 MT time.
Non-farm payrolls, the most awaited economic report, will be out on March 5 at 15:30 MT time.
Stock indices S&P 500 and Nasdaq are falling for seven days in a row. The New Zealand dollar skyrocketed to almost two-years highs. Fed’s Powell held a meeting yesterday and said that the central bank wouldn’t tight its easing policy anytime soon.
The giant chip maker exceeded analysts’ expectations. Even with a global GPU shortage!
OPEC will hold a meeting on March 4, where it should announce its decision on further oil output.
The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.
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