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On August 9th, local time, the U.S. Central Command stated that on August 8th, U.S. Navy personnel were performing maintenance on F/A-18 Super Hornet fighter jets aboard the USS Abraham Lincoln aircraft carrier to ensure the carrier strike groups equipment remained operational and to continue strictly enforcing the naval blockade against Iran. As of that day, the U.S. military had diverted 53 merchant ships, rendered two ships inoperable, and boarded and inspected two other vessels. In addition, the U.S. military allowed more than 30 ships carrying humanitarian aid to pass through the blockade zone.On August 9th, US Vice President Vance stated on the 8th that the US and Iran are in dialogue, and the US-Iran conflict remains in the "middle of the game." In an interview with Fox News that day, Vance said the US-Iran conflict is not over, "but its clearly no longer in the initial stages, but has entered the middle stages." He stated that the US is using a combination of diplomatic, economic, and military means to ensure the best possible outcome. Vance said the USs current primary focus is "to maximize the amount of oil and gas transported through the Strait of Hormuz," and the US is observing whether Iran is willing to make the necessary long-term changes to establish a better relationship with the US. If Iran is unwilling, the US will continue to exert pressure. Vance also said the US is trying to establish a navigation mechanism to ensure the safe passage of ships. This includes mine-clearing operations, and "also requires a commitment from Iran to guarantee that it will not fire on merchant ships."The U.S. Geological Survey reports a 4.7-magnitude earthquake that struck the Kermadec Islands at a depth of 10 kilometers.Saudi Arabia reiterated its firm support for the legitimate Yemeni government.On August 9th, Ukrainian Foreign Ministry spokesman Tishi stated on the 8th that Ukraine is maintaining close contact with Bulgaria to ascertain the specific circumstances surrounding the drone crash in Bulgaria that day. He emphasized that the Ukrainian military did not intentionally launch any equipment towards Bulgaria. Tishi said that Ukraine is verifying all the circumstances and relevant technical facts of the incident and is willing to cooperate with Bulgaria to ascertain the details.

AUD/NZD Price Analysis: Bulls Surpass 1.0790 Resistance Confluence Due To Positive Australian Employment Report

Alina Haynes

Apr 13, 2023 14:19

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AUD/NZD supporters are approaching their highest levels since early March as a result of a four-day uptrend following Thursday morning's release of robust Australian employment data. At the time of publication, the currency pair is accepting bids to reestablish the multi-day high near 1.0810.

 

The Australia Bureau of Statistics (ABS) reported for the month of March that Employment Change increased by 53K compared to 20K expected and 64.6K previously, while the Unemployment Rate remained unchanged at 3.6% compared to expectations of 3.6%. In addition, the Participation Rate rose to 66.7%, exceeding the 66.7% predicted by the market.

 

The AUD/NZD pair surpassed the previous critical resistance confluence surrounding 1.0790, which was comprised of the 100-day moving average (DMA) and a one-month-old downward trend line.

 

The bullish MACD signals and stronger, non-overbought RSI (14) line contribute to the strength of the upside bias.

 

The AUD/NZD bulls are currently positioned to test the 50-day moving average of 1.0824. However, the preceding monthly apex of about 1.0895 and the round number 1.0900 may limit future gains.

 

Alternately, retracement remains elusive until the AUD/NZD pair remains above the support-turned-resistance level of 1.0790.

 

Then, a breach of the upward-sloping trend line from March 5 and the 61.8% Fibonacci retracement level of the pair's run-up from December 2022 to February 2023, located near 1.0705, could give the bears room to maneuver in their subsequent analysis.