RedstoneFx Analyst
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Redstone Morning Analysis 12/1/2021

AUD/USD

Trend Theme:AUD/USD battles 0.7700 amid US dollar strength, challenges to risk.

Trend Review:AUD/USD struggles to keep latest bounce off 0.7665. AUD/USD stays defensive around the 0.7700 threshold, despite the latest corrective pullback, during early Tuesday morning in Asia. Risks dwindle amid virus woes, stimulus hopes and Sino-American tussle.

Today Advise:StronglyBearish

Key Levels:

PPResistance*0.7755 *0.7809 **0.7854 ***
0.7710Support*0.7656 *0.7611 **0.7557 ***

Position Datas:

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NZD/USD

Trend Theme:NZD/USD rebounds toward 0.7200 after hitting two-week lows below 0.7150.

Trend Review:The NZD/USD is falling for the third consecutive day as it continues to correct lower from multi-year highs. The pair bottomed dafter the beginning of the American session at 0.7145 matching the 20-day moving average.

Today Advise:StronglyBearish

Key Levels:

PPResistance*0.7223 *0.7280 **0.7318 ***
0.7185Support*0.7129 *0.7090 **0.7034 ***

Position Datas:

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WTI-OIL

Trend Theme:WTI: Eyes 50-HMA retest as sellers attack $52.00.

Trend Review:WTI fades bounce off 50-HMA while staying near 11-month top. Strong SMA supports keep oil buyers hopeful despite RSI’s downside bias. One-week-old resistance line guards immediate upside, 200-HMA adds to the downside filters.

Today Advise:Bullish

Key Levels:

PPResistance*52.72 *53.32 **53.93 ***
52.11Support*51.51 * 50.90 **50.30 ***

Position Datas:

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XAUUSD

Trend Theme:Gold bears seek further clarity around $1,850.

Trend Review:Gold prices consolidate while picking up the bids near $1,848 during the initial Asian trading on Tuesday. Gold struggles to keep corrective pullback from six-week low. Lack of major data/events highlights risk moves as the main catalysts.

Today Advise:Bullish

Key Levels:

PPResistance*1862.40 *1879.54 **1902.26 ***
1839.68Support*1822.54 *1799.82 **1782.68 ***

Position Datas:

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