The Kiwi(NZDUSD) fight to cover gap
The Kiwi(NZDUSD) remains indecisive after failing to cover the recent weekend gap. With the greenback making gains across the board, the pair has seen a choppy 100-pip move in the last 48 hours. On the 4-hour chart, the downward bias has remained intact after the Kiwi bounced off 0.5640. The price then consolidated its gains but continues to be pressured. A close below 0.5540 would open the door to the previous low towards 0.5400.
EURJPY struggles for support
The Japanese yen continues its struggles against the Euro as the pair hits higher highs. After breaking through the 159.00 level, prices saw another bounce to the upside to push above 160.00. With a slight decline in place, a drop below 159.80 could prompt some buyers to bail out. As the RSI looks to move towards the overbought area, an extension of declines could ensue, with a retest of 158.30 at the recent bottom.
Dow 30
The Dow took a breather after US inflation worryingly looked to move away from the Fed’s 2% target. A break above 44500 prompted sellers to cover their positions, easing the downward pressure. Then, a pullback in prices suggests that sellers have taken over in the short term. As the RSI bounces away from a deep oversold situation, prices could pop higher, with 44750 needed to break for another fresh peak. 44000 now becomes a firm support
