EURUSD licks its wounds around a two-year low during a cautiously optimistic Asian session on Wednesday. In doing so, the major currency pair takes a U-turn from the 61.8% Fibonacci Expansion (FE) of February-April moves. However, a downward sloping trend line from March 31 challenges the quote’s corrective pullback near 1.0830 ahead of a broad resistance zone...
AUDUSD renews its monthly low during early Monday as mixed data from the biggest customer China joins the risk-off mood. However, a five-week-old horizontal support area surrounding 0.7365-60 tests the pair sellers. Adding to the downside filters is an upward sloping trend line from late February, around 0.7310 by the press time. It should be noted, however, that...
USDCAD’s rebound from a weekly low fails to cross the 200-SMA hurdle amid a holiday-thinned trading session on Friday. Not only the 200-SMA level surrounding 1.2630 but a downward sloping trend line from March 08, near 1.2660, also challenge the pair’s upside momentum. It’s worth noting that the quote’s upside past 1.2660 needs validation from the monthly high...
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...
EURUSD fades Friday’s rebound ahead of the key US Consumer Price Index (CPI) data for March. Steady RSI and bearish MACD signals also support the bearish bias. That said, the 1.0845-35 region offers immediate support to the currency major ahead of directing it to the latest multi-month low surrounding the 1.0800 threshold. In a case where EURUSD bears remain...
Be it double tops marked in March or the oversold RSI conditions, AUDUSD bears have a tough time keeping the reins. That said, the 0.7425-20 horizontal area puts a floor under the pair’s immediate downside, a break of which will direct bears toward the 0.7380-85 support confluence including the 200-SMA and 50% Fibonacci retracement level of the February-April...
GBPUSD struggles to defend 1.3100 inside a one-week-old symmetrical triangle. Even so, an impending bear cross and failure to cross the horizontal resistance since late February during the latest upswing keep sellers hopeful. That being said, a clear downside break of the 1.3100 threshold, also comprising the stated triangle’s support line, becomes necessary for...
Be it a clear bounce off the 50% Fibonacci retracement (Fibo.) of an upswing from mid-March or sustained trading beyond the one-week-old rising trend line, not to forget the 50-SMA, USDJPY has it all to revisit the multi-year top poked during late March. That being said, the 124.00 threshold may offer an intermediate halt during the run-up targeting the recent top...
EURUSD’s corrective pullback remains below 21-DMA, as well as a two-week-old ascending trend line, suggesting a further downside towards the lower end of the latest range between 1.1120 and 1.0900. However, the 23.6% Fibonacci retracement (Fibo.) of February-March downside acts as an intermediate halt around 1.0980. While the bearish MACD and downward sloping RSI...
EURUSD braces for the first positive week in six, despite recently drop back to a two-week-long symmetrical triangle during early Friday. Given the bullish MACD signals and firmer RSI, the major currency pair is up for crossing the aforementioned triangle’s resistance line, near 1.1105. Even so, the 200-SMA and a seven-week-old horizontal area, respectively around...
USDJPY cheers the greenback’s robust strength ahead of the Fed’s widely anticipated rate-hike to refresh five-year high. In doing so, the yen pair defied an upward sloping trend channel from late November, backed by the bullish MACD signals. However, overbought RSI and double tops around 118.65 could challenge the quote’s further upside. In a case where the pair...
EURUSD extends the early week rebound from a 22-month low, also holding the previous day’s break of a bearish broadening pattern as traders brace for the European Central Bank (ECB) monetary policy meeting. Given the recently improving MACD and RSI, the pair’s recovery moves are likely heading towards a six-week-old horizontal area between 1.1100 and 1.1125....
Having successfully crossed the 200-DMA burden during the last week, AUDUSD rose to the four-month high on Monday. However, a broad horizontal area between 0.7425 and 0.7440, also comprising the 78.6% Fibonacci retracement of October 2021 to January 2022 downside, challenged bulls. Amid the overbought RSI conditions and a likely caution ahead of RBA Governor...
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...
EURUSD remains on the back foot around a 21-month low, despite the recently sidelined performance. That said, the bearish MACD signals do support the latest break of a descending support line from late November, around 1.1080 at the latest, which in turn hints at the quote’s further weakness. However, the RSI line nears the oversold territory and hence indicates...
AUDUSD holds onto Friday’s recovery moves from a three-week-old support line around the 100-DMA as Aussie traders brace for the RBA monetary policy meeting. Although Australia’s central bank has been dovish of late, any hints of a tighter monetary policy for the future may allow the AUDUSD prices to extend the latest run-up beyond the 100-DMA level of 0.7240. Even...
As Moscow proved the Western forecasts right by invading Kyiv, markets players rushed to risk safety on Thursday. The sour sentiment propelled prices of traditional safe-havens, like gold and USD, which in turn caused the EURUSD pair’s slump. The south-run also conquered three-month-old horizontal support around 1.1185-70. The same opened doors for the quote’s...
GBPUSD bears flex muscles inside the one-month-old symmetrical triangle, recently easing from the resistance. Although downbeat RSI and MACD signals keep sellers hopeful of breaking the stated triangle’s support line, around 1.3550 at the latest, a convergence of the 100-DMA and the 50-DMA highlights the 1.3500 threshold as strong support. Even if the cable pair...