The dollar index (KTM: USDX) failed to foot above the neckline/parallel resistance located between 97.25-97.36 levels. The UST 10year Yield down from 2.08% Tuesday closing to 2.05% whereas the 2year Yield settles at 1.83%.
Turning to commodities, Gold managed to hold the 20MA again and consolidating in a tight range between 1414-1430$. In energy space, Brent crude oil rejected at 50MA, retraced back to the critical support level located at 62.50$.
In crypto space, Bitcoin has been consolidating in a range between 9000-10725$, a trading tad above 50MA. The most-traded cryptocurrency #Bitcoin extended declines for the fourth straight trading session, clocking their longest losing streak in over eight months.
Make or Break levels: Couple of trading instruments are now stone’s throw away from their crucial support levels, which will be the make or break level for the short-term (2day focus) trend.
- EURUSD: 1.1100
This morning is the Asia session; we focus more on AUDNZD. As long as 1.0380 is acting as support, watch out for 1.0450. A daily close above 1.0460 its 20MA could extend the rally towards 1.0490/1.0500. The daily RSI has been stabilizing above 30 levels whereas the oscillator has turned bullish crossover.
It is important to always keep in mind the risks involved in trading with leveraged instruments.
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