Russia vs Ukraine: The Biden administration is preparing to use the MLRS system as part of a larger military and security aid package for Ukraine, which could be announced as early as next week. The MLRS and its lighter version, the HIMARS, can fire up to 300 kilometers, depending on the type of ammunition. Washington officials have denied the request, fearing that such long-range weapons could be used against targets inside Russia, ultimately expanding and prolonging the conflict. A host on Russian state television responded to the report, saying the United States would cross a red line and deliberately provoke Russia if it supplies Ukraine with weapons.
ACTIVE TRADE: Bullish traders could push NZD/USD above the 0.6600 round-figure mark before heading towards the 50% Fib retracement level of 0.6625. The upward momentum could extend further to the next relevant resistance near the 0.6655 area, the 50-day moving average, and NZD/USD may even challenge the all-important 200-day moving average around the 0.6700 level.
Order Details: Symbol: NZD/USD Order Type: SELL Open Price: 0.64870 Take Profit: 0.63000 Stop Loss: 0.65500 Lots of sizes: 0.20 Status: Running Trade in a LOSS of $8.20 AUD/USD OUTLOOK: The PCE and Core PCE Price Index, the Fed's preferred inflation gauge, will be released. Core PCE is expected to decline from 5.2% to 4.9%, and while this figure is not usually a significant driver for the market, the market reaction will depend on the deviation from the market consensus. Elsewhere, today is the end of the spot month (two days before the actual end of the month), and there may be a wave of USD demand, prompting a slight pullback in AUD/USD. Technically, the key resistance is at 0.7255-65 and the support is at 0.7040.
USD/JPY OUTLOOK: USD/JPY continues its downward trend and is far away from 127.40. The currency pair is Currently below 126.90, which further confirms that USD/JPY will continue to be bearish in the next few trading days, falling to the next bearish target of 125.00. The road has been opened. Therefore, unless USD/JPY rebounds above 127.40 and 128.00 and holds above these levels, we will continue to forecast a bearish intraday trend for the pair.
Comments: