NZDUSD fights to test resistance
The Kiwi remains indecisive after failing to retest the recent peak at 0.6100. With the greenback making moderate gains across the board, the pair has seen a firm consolidation in the last 48 hours. On the 4-hour chart, the upward bias has remained intact, with the kiwi holding above the psychological level of 0.6000. The price then consolidated its gains but remains pressured. A close below 0.6000 would open the door to the previous low at 0.5950.
EURJPY struggles for support
The euro continues it struggles against the yen as the pair hits lower lows. After breaking through the 184.00 level, prices moved lower, pushing below 182.00. A drop below 180.50 would prompt more buyers to bail out, continuing the bearish rally. As the RSI looks majorly oversold, a brief bounce could ensue, with a retest of 184.00 the target ahead.
DOW 30 index
The DOW 30 index took a breather from testing record highs as prices found resistance at the 50500 level. A break above 50000 initially prompted sellers to cover their positions, easing the downward pressure. A price pullback suggests sellers have taken over in the short term. As the RSI bounces away from overbought territory, prices could pop lower; 50000 is needed to break for a move lower, as 49600 now becomes a critical support level.
