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According to Axios, US President Trump met with Vance, Witkov, and Rubio on Saturday to discuss the Iran issue.On May 18, Al Jazeera reported that the Saudi Ministry of Foreign Affairs issued a statement condemning the latest drone attack in the UAE earlier today, which caused a fire at the Barakah nuclear power plant. The statement read, "The Saudi Ministry of Foreign Affairs issues its strongest condemnation of the use of drones to attack the UAE."On May 18, local time, the Lebanese Ministry of Health issued a statement saying that since March 2, Israeli attacks on Lebanon have resulted in 2,988 deaths and 9,210 injuries.On May 18th, according to Al Jazeera, Iran stated that Trumps threatening rhetoric and pressure tactics are unacceptable and insisted that the United States should engage with Iran on the basis of mutual respect. Tehran responded to Washingtons escalating rhetoric with the same determination, demonstrating the same level of readiness and military preparedness on both sides. Iran stated that it is prepared for any form of escalation, whether the situation is in the Strait of Hormuz or on its territory. Iranian Foreign Minister Araqchi stated that Irans preparations are "currently" over 100%.According to Axios, US President Trump stated that he still believes Iran wants a deal and that he is awaiting an updated proposal from Iran, hoping it will be better than the one presented a few days ago. He declined to give a specific timeframe for negotiations with Iran.

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

Alina Haynes

Apr 13, 2023 14:19

 AUD:NZD.png

 

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.


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