RedstoneFx Analyst
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Redstone Morning Analysis 9/4/2021

NZD/USD

Trend Theme:NZD/USD bulls take a bite out of both sides of the fundamentals.

Trend Review:NZD/USD stuck in a sideways range for the week. At the time of writing, NZD/USD is trading at 0.7051 having travelled between a low of 0.7045 and a high of 0.7058, flat on the day so far and back to where the pair was at the start of the week. The story of the day overnight stayed with the US Treasury yields once again that were pressured due poor data to the ongoing dovish comments from Federal Reserve Chair Jerome Powell and.

Today Advise:Bullish

Key Levels:

PPResistance* 0.7081 *0.7101 **0.7140 ***
0.7042Support*0.7021 *0.6982 **0.6962 ***

Position Datas:

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USD/CAD

Trend Theme:USD/CAD retreats below 1.2600 in choppy session.

Trend Review:USD/CAD is struggling to make a decisive move in either direction. US Dollar Index stays in the negative territory below 92.30. WTI posts modest losses after closing the previous two trading days in the green.

Today Advise:Bearish

Key Levels:

PPResistance*1.2608 *1.2652 **1.2677 ***
1.2583Support*1.2539 *1.2514 **1.2469 ***

Position Datas:

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WTI/USD

Trend Theme:WTI consolidates in tight channel after failing to break above $60.

Trend Review:WTI fluctuates in a narrow band above $59 on Thursday. Crude oil stocks in the US fell more than expected last week. Brent trades flat on the day a little below $62.

Today Advise:Bearish

Key Levels:

PPResistance*60.20 *60.61 **61.28 ***
59.52Support*59.12 *58.44 **58.03 ***

Position Datas:

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XAUUSD

Trend Theme:Gold: Bears dominate below critical 15-min resistance.

Trend Review:Gold has enjoyed weakness in US yields this week and is drawing to a close in bullish territory. Gold is consolidating the recent weakness in both the US dollar and US yields. There are, however, prospects of a break to the downside on the 15-min time frame. 

Today Advise:Bearish

Key Levels:

PPResistance*1765.03 *1774.65 **1790.55 ***
1749.13Support*1739.51 *1723.61 **1713.99 ***

Position Datas:

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