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USD
EUR/USD
The Shared currency extended its slide to $1.1030 after news hit the wires that Russia attacked Europe's largest nuclear power plant in Ukraine.
GBP/USD
The Cable pressured down to $1.3341 despite chatters over UK PM Johnson's retreat from triggering Article 16 of the Northern Ireland Protocol before Stormont's elections.
USD/JPY
The Japanese yen modestly gained to 115.44 against the U.S dollar after local data released earlier in the day showed better than expected jobs/applications ratio and the unemployment rate data.
AUD/USD
The Aussie dollar darted higher to $0.7355 on better than estimated Australian retail sales.
USD/CAD
The Loonie took a bath to 1.2689 against the greenback after reports began circulating that there could be a deal on returning the United States to the 2015 Iran nuclear deal and removing sanctions on its oil exports, offering the prospect of some relief for the loss of Russian supplies.
USD/ZAR
South African rand rose to 15.25 per U.S dollar buoyed by positive local company earnings.
USD/MUR
The dollar-rupee pierced by 10 cents to 44.35(Selling).
17:30 - USD - Unemployment Rate (Feb)
17:30 - USD - Nonfarm Payrolls (Feb)
19:00 - CAD - Ivey PMI (Feb)
After bouncing back from key resistance level 0.6262 from the upside as per our last forecast (see below) , NZDCHF sworn down to 0.6144 but lacked sufficient selling pressure to continue its downtrend.
It appears that final wave Y of W-X-Y correction is quite complex and there might be 2 scenarios popping up in the near term.
Scenario 1 : we could have reached final wave ‘e’ before downtrend resumes. (As per Elliott wave principle a triangle can be formed as final wave C of wave Y of W-X-Y correction)
Key resistance level is wave ‘e’ of barrier triangle of wave C – 0.6259.
