Morning Insights 4th June

Simon Alagbe

Analyst

Instrument: NZDUSD

Intraday: Bearish

Technical Analysis

Preference: Sell position is envisaged if price trades below 0.64060 with take profit at 0.63647.

Alternative scenario: Buy position is envisaged if price trades above 0.64348 with take profit at 0.64570

Fundamentals:

No major economic data with direct bearing on this pair

Comment: Technically, this pair also got rejected at a psychological resistance zone twice which was a technical confirmation for the start of a bearish move. 




Instrument: AUDUSD

Intraday: Bearish

Technical Analysis

Preference: Sell position is envisaged  if price trades below 0.68850 with take profit at 0.68647

Alternative scenario: Buy position is envisaged if price trades above 0.69235 with take profit at 0.69664.

Fundamentals:

No major economic data with direct bearing on this pair

Comment: Technically, this pair got rejected at a psychological resistance zone twice and shows a reversal sign for a bearish move.

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