NZD/USD is trading at 0.71672, 0.28% up since Tuesday. The mixed trading can be seen in NZD/USD amid global cues. On data front, the number of employed people increased by 0.6% higher than expectation 0.3% & the Unemployment Rate dropped to 4.7% from 4.9% in the previous month. These factors slightly pushed up the pair NZD/USD. The GDT Price Index fell by 0.7% weaker than previous figure -0.1% which showed slower earnings from an auction of dairy products held in the country. Upcoming U.S NFP data will remain in focus later in this week. As seen in the chart, the pair reversed down from major resistance & crossed down the MA (10) & MA (20). Sideways trading may be suggested further.
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Near Day |
R3 | 0.73305 |
R2 | 0.72428 |
R1 | 0.71979 |
Turnaround | 0.71551 |
S1 | 0.71072 |
S2 | 0.70670 |
S3 | 0.69797 |
Gold is trading at $1778.32, 0.07% down since previous close. The precious metals slid down on Wednesday against the soft USD after U.S Treasury Secretary Janet Yellen stated the chances of increasing interest rates in order to support economic conditions. Last week, the mounting Covid-19 cases in few countries leading to lockdown phase & uncertain equity markets pushed up the riskier assets. Globally, unveiling stimulus plan by Joe Biden & accommodative monetary policy remained supportive for Gold. As seen in the chart, the commodity is trading above MA (10); struggling to cross major resistance of $1800 level. This indicates strong buying if upside resumes.
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Near Day |
R3 | 1838.83000 |
R2 | 1810.96000 |
R1 | 1794.77000 |
Turnaround | 1782.89000 |
S1 | 1766.80000 |
S2 | 1754.92000 |
S3 | 1726.95000 |
INDIA50 is trading at 14617, 0.05% down since previous day close. The INDIA50 seems to be trading volatile as RBI Governor Shaktikanta Das announced few monetary schemes in order to support Covid-19 aftermath; since it has affected the country massively. However, the rigorous efforts to vaccinate as many people as can create a positive sentiment amongst the traders & investors. Last week, the index moved on higher side following the U.S Fed’s failure of not hinting towards bond purchase tapering plan. The focus will remain on upcoming U.S NFP data which is to be issued later in the week. As seen in the chart, the INDIA50 is trading in a bearish channel pattern; trading near short term MA (10) & MA (20). The cautious approach may be recommended for the day.
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Near Day |
R3 | 15287.00000 |
R2 | 14904.00000 |
R1 | 14678.00000 |
Turnaround | 14521.00000 |
S1 | 14298.00000 |
S2 | 14138.00000 |
S3 | 13755.00000 |
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