(US30) hits another peak
The Dow (US30) remained bullish as price action hit another higher high. Since a confirmation break past 44,000, a slight increase in value followed by stiff consolidation has led to a top at 44,600. A move past this price will provide the next bullish or bearish signal as bulls hope for a test back towards the record high above 45000. On the downside, 44000 is a firm support, and 43600 is the bulls’ second layer of defence.
USDJPY halts the downturn
The US dollar bounced against the Yen after finding support at the 143.00 level. The latest move above 144.30 has prompted some sellers to cover, and this could pave the way for a bullish continuation, with 145.50 as the next threshold. This would confirm the upward skew and attract buyers in the hope of a further extension. 143.50 is the closest support, which could again test the 143.00 level for a firm double bottom.
NZDUSD remains subdued
The New Zealand dollar kept its composure after diving below the 0.6050 level. The pair fell further as the recent NFP numbers signalled an ongoing rhetoric that the Fed will cut rates any time soon. 0.6000 is the closest support to see if there is any renewed interest in the greenback. On the flip side, a break above 0.6080 at the last swing high would put the Kiwi back on the front foot for a charge towards the recent peak at 0.6120.
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