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NZD/USD Nears 0.6000 on Stable Dollar; Stocks Surge, Silver Drops Following Gold, Aims for $26

By Research Team Monday, May 6, 2024
NZD/USD

    • 11.30amD1
    • High0.6048
    • Low0.5955
    • Close0.6010

NZD/USD is trading at 0.6001, 0.81% up since previous day close. NZD/USD edges lower to near 0.6000 amid stable US Dollar. The NZD/USD pair experienced a slight decline after three consecutive days of gains, trading around 0.6000 during the Asian session on Monday. This decline in the pair could be attributed to the rebound in the US Dollar. On daily basis chart analysis this pair faced rejection from resistance level 0.6045 and closed 0.81% in green. In coming days this pair continue its bullish momentum

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Daily Outlook

NZD/USD

Intra Day
Near Day

Technical Levels

R3 0.6085
R2 0.6045
R1 0.6010
Turnaround 0.6040
S1 0.5962
S2 0.5930
S3 0.5905
By Research Team Monday, May 6, 2024
US30

    • 11.35amD1
    • High38485.00
    • Low37890.00
    • Close38470.00

US30 is trading at 38,744, 1.34% up since previous day close. US30 continue their bullish momentum on Friday this index closed in green with 1.34% positive. Stocks end sharply higher with boost from Apple, cooler than expected jobs. Apart from US30 other U.S. stock indexes ended with gains of more than 1% each on Friday and registered increases for the week. Driven by a cooler-than-expected U.S. jobs report and a surge in shares of on daily chart basis may this bullish momentum may continue.

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Daily Outlook

US30

Intra Day
Near Day

Technical Levels

R3 39337.00
R2 39070.00
R1 38830.00
Turnaround 38.40
S1 38460.00
S2 38230.00
S3 38000.00
By Research Team Monday, May 6, 2024
SILVER

    • 11.40amD1
    • High26.871
    • Low26.111
    • Close26.564

Silver is trading at 26.88, 0.47% down since previous day close. Silver follows gold footprint this pair also moving between 27-26 from last 5-6 trading days. Silver prices moved little in Asian trade on Friday as markets remained averse to this metal before key U.S. payrolls data, while the prospect of high for longer interest rates put silver on course for weekly losses.  It may once again touch resistance level and if it sustains above its resistance level we might see movement in bullish side.

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Daily Outlook

SILVER

Intra Day
Near Day

Technical Levels

R3 28
R2 27.95
R1 26.966
Turnaround 26
S1 26.24
S2 25.7
S3 25.25
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