Key Levels in Asian Markets
Risk assets and markets pushed higher yesterday on the back of President Trump signing the first stimulus package with hopes there will be m
Risk assets and markets pushed higher yesterday on the back of President Trump signing the first stimulus package with hopes there will be more ahead.
The upbeat tone might have been on light volume, but it means the AUD/USD and NZD/USD continued their upward trajectory.
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AUD/USD
The Aussie has been very bullish for many months now and price is once again honing in on that 0.7600 level.
The level of interest above us now are clearly, 0.7600, 0.7620 and 0.7635, which are the respective highs.
Given the softness in the Greenback, it is just a matter of when those levels get tested. However, we saw dollar strength yesterday.
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NZD/USD
The Kiwi has also bee grinding higher, but not to the extent of the Aussie.
That said, price is actually on the bullish side of the key 0.7100 level, making it a touch stronger in the short term.
Similar to the Aussie, it has a couple of key levels ahead which are 0.7135 and the highs of around 0.7170.
Again, the story is familiar, with a weak USD a key driver.
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USD/JPY
We’ve been watching the USD/JPY closely over on the forex signals page and for the most part, price has been very bearish.
Yesterday, we saw a jump higher, which came from the USD. Price will need to focus on 104.00 as a key stopping point to the upside. A break of 103.50 is very bearish.
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