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On September 5th, a new assessment report released by US intelligence agencies indicated that more than six months after the US military action against Iran, Iran has become "more confident" in its ability to strike US targets in the Middle East and appears determined to continue its confrontation with the US, at least until the US midterm elections in November. According to US sources on September 4th, several US officials, after reviewing the latest intelligence assessment report, disclosed that the report shows that after months of fighting, Iran has a clearer understanding of its own "military strength" and is more convinced of the importance of the Strait of Hormuz. It is understood that, currently, although Iran is under dual military and economic pressure from the US, there is no indication that Iran intends to reach any form of agreement with the US. If Iran is attacked again, its reaction may be similar to before, namely, retaliating against US military bases and other targets in the Middle East. Some US officials believe that Iran may be trying to delay the war at least until the US midterm elections in November, and that Iran believes the US military is unable to launch a large-scale strike due to depleted weapons stockpiles.September 5th - According to Daqing Oilfield, as of August 31st, the Maokou Formation in the Sichuan-Chongqing exploration area of Daqing Oilfield has produced a cumulative total of 1.001 billion cubic meters of natural gas in 2026, breaking the 1 billion cubic meter mark for the first time. This marks a significant leap forward in the large-scale and efficient development of this formation, further strengthening my countrys stable oil and gas supply and ensuring supply during the winter.September 5 - A Chinese citizen trapped in a landslide-stricken area of Rasuwa, northern Nepal, was rescued on September 5 local time.On September 5, International Atomic Energy Agency (IAEA) Director General Grossi announced that a partial ceasefire had been reinstated around the Zaporizhia nuclear power plant under IAEA mediation to facilitate repairs to damaged power lines and restore external power to the plant. The Zaporizhia plant lost connection to its last external power line on August 20 due to military activity and has since relied on emergency diesel generators to provide cooling power to its six reactors and spent fuel pool. The IAEA stated that the plants diesel reserves are dwindling, and if external power cannot be restored or more fuel cannot be delivered in time, the plant may face a complete power outage in the coming days. Under the temporary ceasefire, Ukrainian technicians will begin repairing the power lines after clearing mines from the affected area. IAEA personnel will monitor the repair process. Grossi stated that this is the seventh such temporary ceasefire he has brokered to reduce nuclear safety risks at the Zaporizhia plant since the start of the Russia-Ukraine conflict.The U.S. Geological Survey reported that a 4.4-magnitude earthquake struck 77 kilometers east-southeast of La Tirana, Chile, at a depth of 109.4 kilometers.

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.