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Is the US dollar's dominance starting to weaken?

Markets are beginning to question what comes next.

πŸ‘‰ Read more to see how de-dollarization trends are reshaping forex markets: https://exness.social/4eJrK9k
Why did USDJPY suddenly reverse so violently?

Japan’s intervention may signal a larger shift in the market.

πŸ‘‰ Read more to see what traders should watch next: https://exness.social/4nq5rYl
AUDUSD continued surging after closing above 0.7250 despite failing to close above the recent highs. However, the higher swings and diverging bullish EMAs show the uptrend extension potential.

If AUDUSD sustains above 0.7250, the price may retest the immediate resistance at 0.7350.

Conversely, returning below 0.7250 and EMA21 may fuel a retreat toward the following support at 0.7140.
After briefly retesting the ascending channel's lower bound, GBPJPY breached above the key level at 214.00, forming a higher swing. The price remains above diverging EMAs, suggesting a bullish shift potential.

If GBPJPY stays above the support at 214.00, the price may advance further toward the immediate resistance at 216.00.

Conversely, if GBPJPY breaks below 214.00 and both EMAs, the price may retreat further toward the channel's lower bound at around 211.50.
After failing to hold above 0.5920, NZDUSD consolidated within the 0.5840-0.5920 range. The price did not show a clear structure, with flattening EMAs, indicating sideways potential pending confirmation.

If NZDUSD stays below 0.5920, the price may continue to fluctuate within the 0.5840-0.5920 range.

Conversely, closing above 0.5920 may lead to a surge toward the following resistance at 0.6000.
The US releases its May jobs report this Friday, and with it, a cold breeze: the jobs market might be losing momentum, or is it?

The numbers beat expectations throughout the week, but now the main event is here. On Tuesday, we had the JOLTS job openings come in at 7.6M and ADP employment change at 122K, against 105K the month before.

With the upcoming NFP release, markets are expecting 102K new positions added, following 115K the month before.

XAUUSD, EURUSD, USDJPY, GBPUSD and USTEC are all in focus.

Bonus: Our loonie traders have an extra reason to pay attention this Friday. Canada's employment data is also due. Indeed, a lot to digest in one session.

Don your coat, because winter may be coming earlier. What happens to job numbers on Friday could shape what the Fed does next, especially with energy-driven inflation still in the picture.
NZDUSD broke below 0.5920 and both EMAs before retesting the ascending trendline. The unclear market structure indicates potential consolidation.

If NZDUSD falls below the trendline and 0.5840, the price may retreat further toward the next support at 0.5770.

Conversely, breaking above both EMAs may prompt the price to advance toward the immediate resistance at 0.5920.