FTSE (UK 100) holds onto gains
The FTSE (UK 100) hits a slight consolidation as investors hold their breath ahead of US payrolls amid growing rate cut expectations. The index so far has held onto its gains after a tentative break above 8150. A series of higher lows, with the latest being at 8230, indicates mounting buying pressure as the price is still recovering from December’s liquidation. 8400 is the next threshold to clear should buyers manage to gather renewed interests before a bullish continuation in the medium term.
NZDUSD propels higher
The US dollar dipped as speculation over the latest tariffs to be imposed by the Trump administration were leaked. As the price grinds to its previous peak of 0.5700, an overbought RSI has put pressure on short-term enthusiasm. A fall below 0.5650 will force some weak hands out, putting the kiwi on a consolidation pattern. On the upside, 0.5720 is the immediate obstacle to regaining the losses made at the back end of last year. 0.5880 is essential support as its breach could trigger a broader liquidation towards the psychological tag of 0.5500.
EURGBP struggles for buyers
The euro seems to be stuck in an ongoing consolidation as buyers fail to break the double top at 0.8330. On the chart, successive breaks below the previous swing low of 0.8270 have put buyers on the defensive. If bargain hunters start to join the market, the former support level of 0.8220 would be the last line of defence for bears. As the RSI lingers in the neutral zone, traders will be anxiously waiting for the next signal to buy or sell.
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