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Markets Eases Down AMid Escalating Russia-Ukraine Tensions

By Research Team Thursday, May 19, 2022
AUD/USD

    • 2.22pmW1
    • High0.70234
    • Low0.69535
    • Close0.69868

AUD/USD is trading at 0.69924, 0.03% down since previous day close. The mixed trading can be seen in Aussie against the steady USD as tension grew over the slowing global growth progress. The rising inflationary concern, volatile Oil prices & ongoing conflict between Ukraine & Russia limits the gains in antipodean currencies like Aussie & Kiwi. On data front, the number of employed people grew by just 4.0K lower than prior figure 17.9K which further softened the pair AUD/USD.  As seen in the chart, the pair AUD/USD retraced down till previous lows & almost, formed the tripe bottoms which act as a major support level. The sideways hovering RSI line signals for make or break situation & hence, the cautious trading may be recommended for the day in AUD/USD.

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Daily Outlook

AUD/USD

Intra Day
Near Day

Technical Levels

R3 0.71793
R2 0.70814
R1 0.70195
Turnaround 0.69845
S1 0.69226
S2 0.68876
S3 0.67907
By Research Team Thursday, May 19, 2022
GOLD

    • 3.05pmW1
    • High1828.82
    • Low1810.97
    • Close1826.01

Gold is trading at $1825.05, 0.09% up since previous day close. The safe haven instruments gained momentum against mixed USD as tensions widens between Russia & Ukraine. Earlier, the stronger USD & rising bond yields led riskier assets like Gold & Silver to trade on lower side. Besides this, the mounting Covid-19 cases in China; leading to lockdown phases in few cities affected consumption demand of Gold since China is a major consumer of metals. This further suppresses the prices of Gold & Silver. The FOMC’s aggressive rate hike stance in order to control the inflationary pressure drifted down the precious metals. Slight buying may be recommended for the day in Gold.

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Daily Outlook

GOLD

Intra Day
Near Day

Technical Levels

R3 1850.34000
R2 1833.44000
R1 1824.79000
Turnaround 1816.04000
S1 1807.39000
S2 1798.64000
S3 1781.24000
By Research Team Thursday, May 19, 2022
US30

    • 2.45pmW1
    • High31519
    • Low30957
    • Close30966

US30 is trading at 31019, 0.09% down since previous day close. The U.S markets heavily slid down on Thursday amid rout in tech shares against the rising US Dollar Index & mounting bond yields. The worsening situation between Russia & Ukraine further pressurized the equity markets. Last week, the U.S showed a rise in CPI rate which may contribute into more aggressive Fed rate hike stance in near future. The result of Philly Fed Manufacturing Index & Jobless Claims data will remain in focus for the day. As seen in the chart, the index contracted down to Fibo level 50.0 which indicates the chances of further breakdown if breached. Otherwise, a reversal can be seen if sustained the current levels on short to medium term basis.

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Daily Outlook

US30

Intra Day
Near Day

Technical Levels

R3 34390.00000
R2 33062.00000
R1 32177.00000
Turnaround 31734.00000
S1 30849.00000
S2 30406.00000
S3 29078.00000
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