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The U.S. Dollar is inching higher against a basket of major currencies early Monday in an early sign that today may be a risk off trading session. Global equity markets are trading lower and investors are moving money into the U.S. Dollar as a safe-haven asset.
Read moreU.S. Dollar Index (DX) Futures Technical Analysis – Major Support Zone 99.245 to 98.130
The Australian dollar rallied a bit during the trading session on Monday, but then turned around to show signs of exhaustion. Ultimately, this is a sign that we will continue to see a lot of volatility out there, which makes quite a bit of sense considering that the world continues to suffer from a huge lack of demand and of course the fact that most economies around the world are basically shut down due to the coronavirus.
Read moreAUD/USD Price Forecast – Australian Dollar Looking to Rollover
While most investors were focusing on the Fed and demand for risk, Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr said the central bank can support the economy for as long as needed through both quantitative easing and other tools.
Today’s negative reports had little influence on the Australian and New Zealand Dollars since they were already priced in. Generally speaking, the macro data dating back to February and March is of little relevance at this time.
The USD/JPY is still very bullish. We can clearly see the bullish order block (red line) and a possible bounce off the level.
The USD/JPY is still very bullish. We can clearly see the bullish order block (red line) and a possible bounce off the level.
Read moreThose who joined our Global market membership – Anirudh Sethi Report
Usdinr spot- gap dwn open brrakout lvl 71.40 sustauan blw dwn side 71.28-22 or ressatance line 71.60 abv onlu bull favorrrr
