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NZD/USD Dips, Futures Await Fed, Silver Prices Brace for Volatility.

By Research Team Tuesday, Jun 11, 2024
NZD/USD

    • 11.30amD1
    • High0.6133
    • Low0.6118
    • Close0.6129

NZD/USD is trading at, 0.06% down since the previous day’s close. NZD/USD edges lower due to the hawkish sentiment surrounding the Fed. The CME Fed Watch Tool suggests the odds of a Fed rate cut in September have decreased to nearly 49.0%. The New Zealand dollar may limit its downside as RBNZ is expected to maintain a tightening policy for longer. On Friday, a sharp fall in NZD/USD tried to recover from the bottom and can go near resistance 0.6139.

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NZD/USD

Intra Day
Near Day

Technical Levels

R3 0.6203
R2 0.6182
R1 0.6139
Turnaround 0.6125
S1 0.6097
S2 0.6065
S3 0.6023
By Research Team Tuesday, Jun 11, 2024
US30

    • 11.35amD1
    • High38877.00
    • Low38700.00
    • Close38737.00

US30 is trading at 38834. 0.21% down since previous day close. The Dow Jones Industrial Average (DJIA) is churning chart paper on Monday, paddling around 38,750.00 as investors look for a reason to recover footing after last Friday’s Nonfarm Payrolls (NFP) rout that saw broad-market rate cut hopes wither on the vine. Investors will be buckling down for the wait to Wednesday’s latest showing from the Federal Reserve US30 trading in pressure in coming trading session may touch near support 38250.  

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US30

Intra Day
Near Day

Technical Levels

R3 39500.00
R2 39250.00
R1 39000.00
Turnaround 37550.00
S1 38660.00
S2 38460.00
S3 38200.00
By Research Team Tuesday, Jun 11, 2024
SILVER

    • 11.40amD1
    • High29.78
    • Low29.01
    • Close29.19

SILVER is trading at 29.16, 1.87% up since previous day close. Silver price (XAG/USD) extends its downside to near the crucial support of $29.00 in Tuesday’s European session. The white metal weakens as the US Dollar (USD) and bond yields have performed strongly across the board due to a sharp decline in market expectations that the Federal Reserve (Fed) will start reducing interest rates from the September meeting. Gray metal follow the footstep of Xau/usd currently trade in red corner. According to chart silver shows a bearish movement.

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SILVER

Intra Day
Near Day

Technical Levels

R3 31.00
R2 30.86
R1 29.98
Turnaround 29.50
S1 28.96
S2 28.33
S3 28.00
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