(US30) Dow Jones tests resistance
The (US30) Dow Jones remains steady as investors brace for the latest NFP number. The move towards a potential record high was rejected as prices failed to clear the cluster of resistance around 45600. As the index awaits the next signal, an oversold RSI and a possible bullish divergence could indicate a resurgence in bullish momentum, allowing it to move through the 45500 level. A break below 45000 would resume the downtrend and move towards another fresh low.
NZDUSD hanging on
The Kiwi hit another downturn as prices failed in their bid to hit the recent peak at 0.6000. The fall is a sign of uncertainty following the previous surge, and the pair is now testing the mid-0.5800 zone, which is an important psychological area to maintain the rebound bias; a breakout could expose the daily swing low of 0.5800. The RSI’s move back into the neutral area could trigger a buy-the-dip behaviour, but bulls will need to lift 0.5920 first to start to ease the downward pressure.
EURGBP jumps higher
The pound slipped after the latest uncertainty from the British parliament. Price action is attempting to move back to the latest peak, towards 0.8740, and a bullish drive on the RSI could attract some buying interest. The resistance-turned-support at 0.8640 is the next level to see if buyers have regained full control over the currency. Otherwise, a deeper retracement could send the pair towards 0.8560.
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