Key Points
- USD/JPY slides as traders take profits. 📉
- EUR/USD dips as markets await U.S. jobs data.
- AUD/USD swings amid lack of clear catalysts. 🔄
- NZD/USD pulls back towards 0.6200 as traders eye rate cuts.
USD/JPY: Profit-Taking Time? ⏳
The Japanese yen is gaining ground, with USD/JPY struggling to stay above 146.00. Why? Treasury yields are pulling back, and some traders are cashing in after a strong run from the 141.80 – 142.50 support levels. If USD/JPY breaks below 146.00, we could see it slide further to the 50-day moving average (around 144.44). With the RSI in moderate territory, there’s room for more action if the right catalysts pop up. Keep an eye out! 👀
EUR/USD: Waiting for Jobs Data ⏱️
EUR/USD is inching lower as traders hold their breath for the Non-Farm Payrolls report. The market’s expecting 140,000 new jobs in September, with the unemployment rate steady at 4.2%. If EUR/USD dips below the 1.1000 – 1.1015 support zone, we could see it head down towards the 1.0900 – 1.0915 range. The RSI suggests there’s room to build momentum in the short term. ⚡
AUD/USD: Where Are the Catalysts? 🧐
AUD/USD is basically on a seesaw—swinging back and forth without a clear direction. Traders are watching the strong oil rally, which is boosting commodity-linked currencies like the Aussie dollar. But with no real news, AUD/USD is hovering. If it breaks below the 0.6815 – 0.6825 support, the next stop could be 0.6750 – 0.6760. Watch this space! 🌏🛢️
NZD/USD: Eyes on the Rate Cut 🔻
NZD/USD continues its downward slide, dipping towards 0.6200. Traders are already gearing up for the RBNZ interest rate decision next week, where the expectation is for a cut from 5.25% to 5.0%. The RSI shows the pair is already oversold, so a rebound could be brewing. Don’t be surprised if the kiwi makes a comeback! 🥝
That’s today’s scoop on the major currency pairs! Get ready for more action as market catalysts emerge. Stay tuned and trade smart! 📊💸