Pound stabilises as Rishi Sunak announces challenging economic conditions ahead
Asia markets struggle as Xi Jinping leadership team spook markets
Euro consolidating as it waits for expected interest rate hike later this week.
The dollar is slightly weaker as Fed Reserve takes dovish stance following a slowdown in the US economy.
Japanese finance minister refuses to comment on whether or not it ordered a recent intervention to save the currency from further lows.
USD/JPY: INTRADAY BULLISH
We are expecting price to re-test the first resistance today at 149.34 if bullish momentum continues. The pair is currently trading sideways.
Long positions above 148.07 with targets 150.61, 152.22, 154.76
Below 148.07 short positions with targets 146.46 143.92, 142.31
EUR/USD: INTRADAY BEARISH
On the 4-hour, price is moving in a descending direction. We are expecting the price to drop to the first support at 0.9822.
Below 0.9861 short positions with targets 0.9822, 0.9769, 0.9730
Long positions above 0.9861 with targets 0.9914, 0.9953, 1.0006
GBP/USD: INTRADAY BULLISH
We are bullish biased that the price will break through the first resistance at 1.1373 and head towards the second resistance at 1.1466.
Long positions above 1.1315 with targets 1.1373, 1.1466, 1.1524
Below 1.1315 short positions with targets 1.1222, 1.1164, 1.1071
USD/CHF: INTRADAY BULLISH
If bullish momentum continues, we expect the price to re-test the first resistance at 1.0045
Above 0.9995 long positions with targets 1.0045, 1.0081, 1,0131
Short positions below 0.9995 with targets 0.9959, 0.9909, 0.9873
XAU/USD: INTRADAY BEARISH
We are expecting the price to retest 1660.00 before heading back down to the first support at 1642.88
Below 1650.55 short positions with targets 1646.14, 1642.88, 1638.47
Long positions above 1650.55 with targets 1653.81, 1658.22, 1661.48
AUD/USD: INTRADAY BEARISH
We are bearish that the price will drop to the second support at 0.6192
Short positions below 0.6333 with targets 0.6253, 0.6192, 0.6112
Above 0.6333 long positions with targets 0.6394, 0.6474, 0.6535
NZD/USD: SHORT-TERM BULLISH
There is short-term bullish momentum, we think price is heading back up to 0.5910 before coming back down to the first support at 0.5638
Short positions below 0.5715 with targets 0.5638, 0.5579, 0.5502
Above 0.5715 long positions with targets 0.5774, 0.5851, 0.5910
USD/CAD: INTRADAY BEARISH
If bearish momentum continues, we expect price to head to the second support at 1.3526, which is the previous low.
Below 1.3695 short positions with targets 1.3615, 1.3526, 1.3446
Long positions above 1.3695 with targets 1.3784, 1.3864, 1.3953
Crude Oil WTI Futures: CONSOLIDATION
We are expecting price to head towards the first support at 84.35
Below 84.67 short positions with target 84.35, 84.12, 83.80
Long positions above 84.67 with target 84.90, 85.22, 85.45