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Dollar/Yen nudges down to 110.79 (down 17 pips) after starting the day at 110.96

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(Last update 5:11am EST, July 6, 2021)

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Dollar/Yen slides down from 110.96 to 110.79, losing 17 pips (0.16%).

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Important graph levels to look out for: Dollar/Yen might start to recover soon because it is getting close and is now only 25 pips from support line at 110.54, obviously dipping below it could be an indication that further losses are ahead. Asset volatility analysis shows that the upper Bollinger band at 111.39, indicating a further downward move might be next.

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Overall, technical indicators suggest Dollar/Yen has no obvious direction for the immediate future.

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Dollar/Yen has started this year by gaining 7.05%.

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Rescuers resume search for 24 missing in Japan landslides https://t.co/oBEk204rUl pic.twitter.com/1CFqIvBZ2c

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— Reuters (@Reuters) July 6, 2021

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Dollar/Swiss holds at 0.9231

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(Last update 5:11am EST, July 6, 2021)

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Dollar/Swiss recovers back to 0.9231 after dipping down to 0.9194 in a session that started at 0.9223.

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Dollar/Swiss chart analysis: Dollar/Swiss nearest support level is at 0.8954. In terms of trend indicators, we can see that at 0.92, Dollar/Swiss made an initial breakout below the 10 day Simple Moving Average, an indication of a negative trend. Asset volatility analysis shows that the upper Bollinger band is at 0.9258, indicating a downward move might be next.

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Overall, looking at the technical analysis landscape, it seems Dollar/Swiss is likely to start pointing downward in the short term.

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Dollar/Swiss started the year by gaining 3.92%.

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Aussie/Dollar up 50 pips to 0.7578 building up on its four days of gains

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(Last update 5:11am EST, July 6, 2021)

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Hesitant but green: from an earlier low of 0.7528, Aussie/Dollar is up to 0.7578 gaining 50 pips compared to the 0.7528 start of the day (0.67%).

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Chart pattern study shows although Aussie/Dollar is green today and was as high as 0.76, it seems to be slowing down slightly and moving away from the 0.7673 resistance line, and is now 94 pips below it. In terms of trend indicators, we can see that at 0.7588, Aussie/Dollar made an initial breakout above 21 day Simple Moving Average, an indication of a positive trend. Medium-term trend indication has turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. This occurs as the MACD line crosses above the MACD signal line. Asset volatility analysis shows that the upper Bollinger band is at 0.7612, this is a slight indication of a slowdown.

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Overall, technical indicators suggest Australian dollar has no obvious direction for the immediate future.

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Australian dollar has started this year by losing 2.24%.

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