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Forex Report: the Australian Dollar Holds Below 0.74 - CryptoNewsZ

The financial market is experiencing a mixed session for stocks, commodities, and currencies. Equities are currently in a short corrective dip with chances to make a comeback shortly. On the other hand, Shanghai and Nikkei are facing quick resistance at the current levels.

Dow is treading under the expected line and can extend to 35000 before reaching higher levels. DAX is also dipping with expectations to reach 15600. Nikkei and Shanghai are facing resistance near 28000 and 3580 with expectations of a quick comeback.

On the commodities front, WTI and Brent have fallen; Brent is faring well at the 72.5-74 resistance level, while WTI is trading near 70. Gold is currently stuck between 1820-1800 and needs a break from the pattern for clarity.

Silver is rising above 24 sustaining while its dip below 23.5 is still on the table. In contrast, copper has fallen to 4.30 with expectations to go below 4.20.

In Forex, the Dollar made an unexpected fall from 92.80, with the community expecting it to breach 93. On the other hand, the Euro surged to 1.185, showing resistance above the immediate level.

Dollar-Yen tested 110.42 before fluctuating between 110.40-109. The Australian Dollar is currently holding around 0.74, but its price might drop below 0.7350 before heading to 0.7450. However, most of the top Australian forex brokers expect the corrective dip to be short-lived.

The Pound is currently holding below under 1.38 and might even test 1.3825 before surging to higher levels. With momentum on its side, the currency might break the upper levels quickly.

USD-INR bounced from 72.9 support without dropping to 72.75 support. After breaching 72.9, the pair might test around 73.5 before facing rejection.