EUR/USD is trading at 1.18675, 0.07% up since Monday. The EURO seems to be trading slightly on higher note against the firmer USD as market waits for the result of FOMC Minutes which is to be issued on Wednesday. Moreover, the calmness over early U.S interest rate hike chances amid robust U.S Non-farm Payroll data cushioned the other currencies to some extent. The Euro-zone Final Services PMI slightly grew up to 58.3 from 58.0 in the prior month which remained supportive for EUR/USD. The result of ZEW Economic Sentiment data will remain in focus for the day. As seen in the chart, the pair is trading near major support level & hence, the cautious trading may be seen further.
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Near Day |
R3 | 1.19228 |
R2 | 1.18938 |
R1 | 1.18779 |
Turnaround | 1.18647 |
S1 | 1.18488 |
S2 | 1.18356 |
S3 | 1.18065 |
Gold is trading at $1801.36, 0.29% up since previous close. A sharp resurgence can be seen in Gold prices, almost crossing $1800 levels since last one-month, amid mixed USD after U.S posted robust NFP data which lowers down the chances of early interest rate hike. Earlier to this, the metals sharply slid down as Fed hinted for two rate hikes in the year 2023 which cushioned the greenback. The progressive global recovery & evenly distribution of Covid-19 vaccine supplies in the world remains supportive for commodities. As seen in the chart, the Gold successfully reversed up from previous lows & also, is on the verge of crossing MA (200). Buying bias may be seen on daily basis in Gold with expected level of $1820.
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Near Day |
R3 | 1809.42000 |
R2 | 1799.77000 |
R1 | 1795.73000 |
Turnaround | 1790.12000 |
S1 | 1786.08000 |
S2 | 1780.17700 |
S3 | 1770.82000 |
AUS200 is trading at 7200, 0.11% down since Monday. The Asian shares weakened slightly on Tuesday as Chinese markets dragged down amid technology stocks rout. Also, the weaker than expected Chinese PMI figures pressurized the AUS200 since Australia & China are the trading partners. The Reserve Bank of Australia (RBA) left its interest rate steady at 0.10% as expected & hinted for monetary easing if required. The worsening Covid-19 situation in the country remains crucial for Aussie as well AUS200. The result of AIG services Index will be closely watched for the week. As seen in the chart, the AUS200 is trading near bullish trend-line indicating the chances of reversal if sustained and a breakdown if breached further.
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Near Day |
R3 | 7322.00000 |
R2 | 7281.00000 |
R1 | 7264.00000 |
Turnaround | 7240.00000 |
S1 | 7223.00000 |
S2 | 7199.00000 |
S3 | 7158.00000 |
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