A daily closing beneath a nine-month-old rising support line, now resistance around 0.6480, keeps the AUDUSD bears hopeful of witnessing further downside even as the oversold RSI conditions prod the immediate declines. That said, the 78.6% Fibonacci retracement of October 2022 to February 2023 upside, near 0.6380, checks the bears while the last November’s bottom...
GBPUSD marked the second consecutive weekly loss, following a U-turn from the 10-DMA on Thursday. That said, bears keep reins around the lowest levels last seen during late December 2021, backed by a downside break of a five-week-old descending trend line. As a result, the pair sellers eye further declines towards the 1.3170-60 area that comprises multiple lows...