In the opinion of UOB Group currency strategists, EUR / USD comes under pressure as long as it remains below the 1.1980 level In the next weeks. Key Comments: 24 hour view: “Yesterday, we are of the opinion that the EUR / USD rebound ‘has room to extend, but any advance is likely to be […]
Tag: Banks
XAU / USD climbs to week-long highs, further rally looks elusive
A modest pullback in the USD helped gold regain some positive traction on Wednesday. An acceptance above the 23.6% Fibonacci Level and the 200 hourly SMA supports the prospects for additional gains. Bearish oscillators on the daily chart could limit the recovery movement. The oro it eventually broke its intraday consolidation trading range and shot […]
Focus remains on 200-day median at 1.1826 – Credit Suisse
EUR / USD has stabilized as expected on the rise of the 200-day moving average (DMA), currently seen at 1.1826 and analysts at Credit Suisse continue to seek a bottom here, at least for now. However, in the big picture, an increased risk of a break to the downside is forecast to expose the 38.2% […]
USD / CHF could correct to 0.9230 zone – Commerzbank
USD / CHF has reversed on a key day after approaching the double Fibonacci resistance at 0.9324 / 28, notes Karen Jones, head of the technical analysis research team at Commerzbank. Expect a correction, with initial support seen at 0.9230. Key statements: “USD / CHF has failed to sustain the break at 0.9324 / 28, […]
Loonie to extend power from 1.2600 break – OCBC
The USD / CAD will seek with the decision of the Bank of Canada (BoC), today at 15:00 GMT, a greater directionality, which could lead to a break of the range of 1.2600 to 1.2750, report economists from OCBC Bank. Key statements: “Policy changes are not expected. They should continue to sound optimistic, and perhaps […]
The selling pressure has eased – UOB
The downward pressure on the AUD / USD pair appears to have lost momentum, in the view of currency strategists at UOB Group. Key statements: 24-hour outlook: “Our opinion for the AUD yesterday was that” a breakout of the main support at 0.7625 would not be surprising, but it is unlikely that the AUD will […]
Bearish pressure will ease if it moves above 1.3930 – UOB
The pound could see its upside revitalized if it surpasses 1.3930 in the near term, currency strategists from UOB Group. 24 hour perspective: “Yesterday, we highlighted that despite the decline, the downside momentum had not improved much. However, we felt there was room for the British pound to decline to 1.3760. Our expectations did not […]
Negative phase is intact – UOB
The currency strategists of UOB Group remain bearish on EUR / USD in the short term, expecting a potential move to 1.1800. 24 hour perspective: “We highlighted yesterday that further weakness was not ruled out, but severe oversold conditions suggested that it was unlikely that the EUR could sustain a foothold below the main support […]
USD / CHF takes a break to ease the overbought condition – Credit Suisse
USD / CHF is taking a breather after the strong rally, with short-term support at 0.9285, reports the Credit Suisse team of analysts. Key statements: “USD / CHF is trying to get out of the overbought condition and therefore we see room for further short-term weakness, with support initially seen at 0.9328, below which a […]
USD / JPY Still Looking Toward Resistance Set At 109.76 / 92 – Credit Suisse
The USD / JPY remains bullish, targeting the June high at 109.85 June 2020, estimate Credit Suisse analysts, who see that area limiting rises and opening a consolidation period. Key statements: “We remain directly bullish for the June 2020 high, the 50% retracement of the entire 2016/2020 downtrend and 78.6% since last March’s dip at […]
