Today, in the US and Canada, the day off, labor day is celebrated. On September 5, the US dollar was falling against major currencies, after an unexpected jump on Friday. So, on Friday, after the publication of the worst statistics from the labor market, the dollar unexpectedly strengthened against most major currencies. The strengthening of the US dollar, in recent times, was partly due to market expectations, rising interest rates in the United States. At the same time, after the release of weak statistics from the labor market, the probability of growth in rates in the near future decreased, which puts pressure on the US currency quotes.
USD / JPY:
During the Asian session, the USD / JPY currency pair quotes resumed their decline. At the same time, the bears were able to pierce and consolidate below the level of 103.52, after which, we can expect the continuation of the bearish movement, to test the key support level of 101.01. Alternative option. In case the bears cannot keep below the level of 103.51 and the USD / JPY quotes return above 101.01, then the probability of movement to the top will appear, in the direction of the key support level 106.31. P >
AUD / USD:
Quotes of the pair AUD / USD, significantly strengthened during the Asian session, and there is no reason to talk about a turnaround. Today, bulls have a good opportunity to continue the upward movement, to work out the key resistance level of 0.7719.
NZD / USD:
Today, after the opening of the market, a gap was formed, in a southerly direction, after which the bulls ignored the reversal candle formed on the daily chart on Friday and began to climb. At the same time, as a result of growth, the bulls were able to pierce and consolidate above the level of 0.7296, after which there is a chance that the bullish movement will continue, to test the key resistance level of 0.7416.
Quotes of gold continue to strengthen, approaching the key resistance level of 1329.62, the same level that the bulls could not pass on Friday. So far there is no reason to talk about the likelihood of a reversal of the movement and we can expect continued growth of quotations, to test the key resistance level of 1329.62, the breakdown of which can be viewed as a continuation of the upward movement, and the next key resistance level of 1357.64. Alternative option. In the case of a rebound of gold quotes from the key resistance level of 1329.62, we can expect a downward correction towards the key support level of 1304.32.
EUR / JPY:
During the Asian session, the EUR / JPY quotes resumed their decline, returning to the key support level of 115.45. If the bears can continue moving south, breaking through and consolidating below 115.45, we can expect a further decline towards the key support level of 112.32. Alternative option. If bulls can return to the market, while moving the EUR / JPY currency pair quotes away from the key support level of 115.45, we can expect growth to resume, to test the key resistance level of 118.46.