Forex Trading Library

Intraday Analysis – USD Slides on NFP Numbers

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USDCHF tries to hold its ground
USDCHF: Decline post- The NFP Numbers, support at 0.9000, resistance at 0.9080.

The US dollar collapsed across the board after weaker-than-expected the NFP numbers. The latest moves have seen over 200 pips wiped off the pair as stiff selling pressure with new swing lows encourages bears to add to their short positions. 0.9000 is a fresh support zone where offers have kept the greenback in check. On the flip side, 0.9080 is the immediate resistance, and its breach could force bargain hunters out and send the price to monthly highs above 0.9220.

EURGBP moves higher
EURGBP: Upward trend after NFP Numbers, resistance at 0.8600, support at 0.8475.

The euro rallied after news of a weaker dollar spread across the market. A move above 0.8550 has put the bears on the defensive after a previous bounce off 0.8530 failed to contain a sell-off. 0.8600 is the next level to see if any meaningful buying interest continues. On the downside, profit-taking could weaken demand and make the pair vulnerable to a bearish reversal. 0.8475 has become a support, and only a close above 0.8640 would improve sentiment.

DAX 40 tests resistance
DAX 40: Testing resistance post-NFP Numbers, aiming above 18000, 18300.

The Dax 40 was another index that jumped higher on the NFP news. A pop above 18000 and the recent peak of 18300 will put the index back on track after it found solid support. This confirms that the market mood remains optimistic, and the consolidation was an opportunity for bulls as 17900 became fresh support. The psychological level 18500 should be a formality before the price retests another fresh high.

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