AUDUSD holds onto its bounce off a downward sloping support line from late January, as well as the 61.8% Fibonacci Expansion (FE) of April-June moves as traders await the Reserve Bank of Australia’s (RBA) third rate hike. Nearly oversold RSI also hints at the quote’s further recovery, in addition to the hawkish hopes from the Aussie central bank. The upside...
USDCHF snapped a two-week downtrend while bouncing off 100-DMA and a horizontal area from April 20. The corrective pullback, however, failed to provide a daily closing beyond multiple hurdles surrounding 0.9620. That said, the MACD and the RSI (14) also hint at the pair’s weakness ahead of June’s Consumer Price Index (CPI) for Switzerland. It’s worth noting that...
Failures cross the key SMAs join descending RSI line, not oversold, to keep crude oil sellers hopeful amid economic slowdown chatters. The black gold, however, needs to stay below the weekly support line, around $107.00 by the press time, to direct bears towards the last monthly bottom of $101.00. In a case where the energy benchmark fails to recover from $101.00,...
Despite the recent rebound, AUDUSD holds onto the downside break of fortnight-old support amid an absence of oversold RSI, which in turn hints at the pair’s likely to rush towards refreshing yearly low. However, the latest bottoms surrounding 0.6850 and 0.6830 may act as intermediate halts during the fall. That said, the 61.8% Fibonacci Expansion (FE) of June...
Not only a sustained trading below the 200-EMA but a clear downside break of the short-term ascending triangle also keeps EURUSD bears hopeful as traders await major central bankers’ debate at the ECB Forum. That said, 1.0460 appears the immediate support for the pair sellers to aim for ahead of looking at the yearly low surrounding 1.0350. During the fall, the...
USDJPY sustains upside break of a weekly resistance line, now support around 134.85, as bulls brace for the fresh multi-year high, currently around 136.70. In doing so, the yen pair could aim for the 61.8% Fibonacci Expansion (FE) of May 24 to June 16 moves, near 137.20. However, a convergence of the 78.6% FE and the upper line of the monthly bullish channel, near...
Gold remains inside a two-week-old symmetrical triangle but the bulls seem running out of steam of late. That said, the stated triangle’s bottom line and an upward sloping trend line support from May, respectively around $1,822 and $1,812, could challenge the metal’s short-term downside. Also acting as a downside filter is the 78.6% Fibonacci retracement of the...
EURUSD again bounces off the monthly low as sellers flirt with a horizontal area surrounding multiple levels marked since April. That being said, RSI and MACD back the major currency pair’s mid-week retreat, which in turn hints at the break of the immediate support zone near 1.0490-80. The following downturn could aim for the yearly low close to 1.0350 before...
GBPUSD fades bounce off yearly low as the cable traders await the UK and the US preliminary PMIs for June. Bearish MACD signals and steady RSI also backs the downside bias. That being said, May’s low of 1.2155 and the 1.2000 psychological magnet can act as immediate supports ahead of the latest trough surrounding 1.1933. In a case where the pair sellers dominate...
Gold fades bounce off monthly horizontal support ahead of Fed Chair Jerome Powell’s key testimony. That said, gradually declining RSI (14) and bearish MACD signals add strength to the downside bias. Should the gold sellers manage to conquer the aforementioned support around $1,805, a downward trajectory towards the yearly low of $1,786 appears imminent. However,...
AUDUSD gyrates inside the one-week-old symmetrical triangle after the RBA Minutes and Governor Philip Lowe’s speech. Given the RBA’s hawkish bias and recently firmer RSI, the Aussie pair is likely to cross the stated triangle to the upside, which in turn highlights 0.7015 as immediate resistance. However, the 200-SMA level surrounding 0.7065, as well as the early...
EURUSD holds onto its bearish bias, despite bouncing off an immediate support line. That said, a sustained trading below the 200-SMA and previous support line from late May keeps bears hopeful of breaking the nearby trend line support, around 1.0450. Following that, multiple levels surrounding 1.0400 could test the downside momentum before directing the quote...
A clear downside break of the fortnight-old support line, favored USDJPY bears in the last few days. However, a convergence of the 100-EMA and 38.2% Fibonacci retracement of May 24 to June 14 upside, around 132.00, seemed to have triggered the latest rebound. Also acting as short-term key support is a horizontal area comprising tops marked during late April and...
GBPUSD fades the corrective pullback from a two-year low, as well as the 61.8% FE level of late March-May moves. Also supporting the bounce was the oversold RSI condition. However, the Bank of England’s (BOE) looming rate hike keeps buyers on their toes due to the “Old Lady’s” previous failures to impress. That said, the recovery moves currently need a clear...
Despite bouncing off multiple troughs marked during mid-May, gold holds onto Monday’s rising wedge confirmation, suggesting further downside. However, nearly oversold RSI joins the horizontal support around $1,810 to test the intraday bears ahead of the US Federal Reserve’s (Fed) monetary policy meeting. Should the quote drops below $1,810, a downturn towards the...
EURUSD dribbles around a monthly low after breaking the six-week-old horizontal support. That said, the downward sloping RSI (14) line, not oversold, joins bearish MACD signals to also hint at the major currency pair’s further downside. With this, the sellers brace for the yearly low surrounding 1.0350. However, the RSI line and nearness to the Fed may restrict...
A clear downside break of the six-week-old horizontal support keeps GBPUSD bears hopeful of further south-run ahead of the US Federal Reserve (Fed) and the Bank of England (BOE) monetary policy meetings. That said, 1.2255-50 appears immediate support for the cable ahead of the yearly low surrounding 1.2150. It’s worth noting, however, that the quote’s sustained...
Gold prices remain sustainably below 200-SMA since late April, pressured inside a three-week-old rising wedge of late. Given the steady RSI and sluggish MACD, the bearish bias is likely to prevail. However, a clear downside break of the stated wedge’s support, around $1,844, becomes necessary to confirm the downward trajectory towards the yearly low marked in May,...