RedstoneFx Analyst
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Redstone Morning Analysis 07/1/2021

NZD/USD

Trend Theme:NZD/USD seesaws near multi-month high around 0.7300 amid geopolitical plays in America.

Trend Review:NZD/USD wavers around a 33-month high while flashing the 0.7300 threshold during the initial Asian trading on Thursday. The kiwi pair refreshed multi-month peak before a few hours as global markets cheered broad US dollar selloff amid victory of Democrats in Georgian elections and the drama in the Capitol Hill afterward.

Today Advise:Bullish

Key Levels:

PPResistance*0.7327 *0.7362 **0.7408 ***
0.7281Support*0.7245 *0.7199 **0.7164 ***

Position Datas:

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AUD/USD

Trend Theme:AUD/USD: Muted reaction to weak Aussie trade surplus.

Trend Review:AUD/USD trades near 0.78, having hit a multi-year high of 0.7820 in the overnight trade. Australia’s trade surplus narrowed more-than-expected in November. That, coupled with the US-China tensions could draw offers for the AUD.

Today Advise:Bullish

Key Levels:

PPResistance*0.7835 *0.7872 **0.7923 ***
0.7784Support*0.7748 *0.7696 **0.7660 ***

Position Datas:

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WTI-OIL

Trend Theme:WTI: Bulls cheer upside break of $49.40/45 key resistance at 11-month top.

Trend Review:WTI reverses the pullback from the highest since February 2020 flashed on Thursday. The energy benchmark refreshed a multi-month high the previous day before stepping back from $50.95. The overbought RSI conditions challenge WTI bulls.

Today Advise:StronglyBullish

Key Levels:

PPResistance*51.05 *51.72 **52.49 ***
50.29Support*49.61 *48.85 **48.17 ***

Position Datas:

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XAUUSD

Trend Theme:Gold consolidates biggest losses in a month above $1,900, eyes on US politics.

Trend Review:Gold prices regain upside momentum during the early Asian session on Thursday. The yellow metal took a U-turn from November highs just to post the biggest losses since early December as US geopolitics grabbed the headlines on Wednesday.

Today Advise:Bullish

Key Levels:

PPResistance*1951.55 *1984.75 **2010.07 ***
1926.23Support*1893.03 *1867.71 **1834.51 ***

Position Datas:

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