NZDUSD fights to test resistance
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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
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The euro continues its 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
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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.
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