NZDUSD justifies downbeat Q2 New Zealand job numbers while refreshing weekly low, following downside break of a three-week-old bullish channel. However, the 200-SMA restricts further declines of the Kiwi pair, which in turn joins firmer China PMI to trigger the latest rebound. However, support line of the aforementioned channel, near 0.6255, guards immediate...
AUDUSD justifies its risk-barometer status aptly as it remains near the two-year bottom, inside a 12-day-long bearish channel. The quote’s further downside, however, appears limited in the short-term due to the nearness to the stated channel’s lower line, close to 0.6690 at the latest. That said, the 61.8% Fibonacci Expansion (FE) of June 16 to July 05 moves, near...
EURUSD fades three-week-old recovery as it remains below a downward sloping trend line from early February, around 1.0745 by the press time. Also keeping sellers hopeful is the RSI retreat and a downside break of the 1.0690 support-turned-resistance confluence, comprising an ascending support line from May 13 and 10-DMA. That said, the bears seem approaching 23.6%...
AUDUSD keeps the bounce off 200-SMA despite mixed jobs report as market sentiment improves during early Thursday in Asia. However, a convergence of the 100-SMA and one-week-old horizontal resistance, around 0.7500, appears a tough nut to crack for the pair buyers. In a case where the pair rises past the 0.7500 hurdle, 0.7540 and 0.7580 may act as intermediate...
AUDUSD justifies its risk-barometer status, also backed by an upbeat Aussie jobs report for January, during Thursday. The Aussie pair stays above the 50-DMA amid upbeat RSI and MACD conditions, suggesting further advances. However, the 100-DMA and a downward sloping trend line from mid-November 2021, around 0.7240-45, becomes a tough nut to crack for the pair...
Having reversed from the late October tops, GBPUSD pokes the key support lines around the mid-1.3600s. Given the receding bullish bias of the MACD and RSI retreat, the prices are likely to decline further. However, the UK employment data will be crucial to watch for clear direction. Should the cable pair stays below the stated 1.3650 support, odds of its gradual...
GBPUSD’s corrective pullback from the yearly low confirmed a five-week-old falling wedge bullish chart pattern before dropping back to the stated bullish pattern’s resistance line as the pair traders await the UK employment report for November. Should the jobs report trigger the pair’s bounce, the late October peaks past 1.3800 are likely theoretical targets....
Having failed to sustain the early October bounce, EURUSD bears are on the way to testing the March 2020 high near the 1.1500 threshold on the day of the US Nonfarm Payrolls (NFP) release. It should be noted, though, that the lower line of a five-month-old falling wedge, around 1.1450 at the latest, will take the help of the RSI conditions to rebound. Hence, the...
The Canadian dollar is steady in Friday trade, after sustaining considerable losses a day earlier. In the North American session, USD/CAD is trading at 1.2118, up 0.11% on the day. The US dollar was broadly higher on Thursday, as the Fed surprised the markets when it announced that it will begin to scale back its portfolio. The Fed ended its purchase of...
The Canadian dollar has posted slight losses on Friday. In the North American session, USD/CAD is trading at 1.2176, up 0.22% on the day. The Canadian currency continues to head higher. On Thursday, the Canadian dollar sparkled, gaining 0.95%, its highest 1-day gain in 2021. USD/CAD fell 2.15% in April and is down 0.95% so far in May, as the Canadian dollar is...
Although a one-month-old support line triggered USDCAD bounce off two-week low, The pair isn’t sure of further upside ahead of the Canadian employment data for February. Considering the oversold RSI conditions and strong support line, USDCAD is likely to keep the latest corrective pullback directed towards a short-term horizontal area around 1.2600. However, any...