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Technical Pullback

There was a bit of technical weakness at key areas today; key areas that everyone is surely watching, which usually means one thing; the first trade is the wrong one.

AUDUSD got about 10 pips above its 2019 low before reversing, EURUSD spiked above 1.1 but couldn't hold the move (helped by the European Commission's proposal roughly along the lines of the original German/French bailout of the EZ). SP500 dipped back below the 3K mark though has since rebounded, however it still holds under the 200 DMA.

AUDUSD @ 2019's low and the 200 daily SMA

The Pound was arguably the weakest currency today, failing not around technical levels but just continuing to drift lower, with a UK spokesperson commenting that there is no change to the government's view that an extension will not be looked for, with the June deadline fast approaching.


1000 : EUR Business Climate (May)

1300 : EUR Consumer Prices

1330 : USD GDP Preliminary

1330 : USD Initial Jobless

1330: USD Durable Goods

1500 : USD Pending Home Sales

1600 : USD Fed's Williams Speech

#sp500 #euraud #SPX #daily #gbpusd #sma #british #pound #200 #audusd


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