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June 3, 2021

USD- Hottest Market Moves

Frank Cabibi

6/3/2021
USD pairs show enormous volatility today off NFP news and expectations for tomorrow's numbers. Estimated NFP numbers suggest a beat in what was forecasted by analysts. Today's volatility is just the start of what could come tomorrow as the dollar might start to see some heavy demand coming soon.

AUD/USD

AUDUSD 4H

AU pair is down 1.07% on the day as of now on the USD expectations that will come out tomorrow. On the 4H timeframe, price hit a lower low but still riding in the support zone. The lower low may cause further downside and a break in support, and it appears like this week will probably end red for AU. A break in support at 0.76629 would also indicate some more selling in the short term.

NZD/USD

NZDUSD 4H

This pair is very similar to AU on the 4h timeframe as price hits a triple bottom for support and hovers in that range. If price were to bounce back from this sell off, clear resistance would lie on the falling trendline. But, if price breaks under support, we can expect a harder sell off to ensue.

GBP/USD

GBPUSD 4H

GU falls to big support on the 4H around 1.41107 and is sticking there for the time being. A break under this level means price could find support on the rising trend line coupled with its 200 SMA. A bounce from current support will likely come back up to resistance at 1.42008.

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