-637842451212071892.png "Consolidates in a range below the resistance of the ascending channel")
AUD/USD rose for the second day in a row on Wednesday amid sustained USD selling. The rally lacked bullish conviction and remained capped near the yearly high set earlier this month. The bulls are now waiting for a sustained advance in an ascending channel that extends from levels below 0.7000. The pair AUD/USD built on […]
Tag: Foreign exchange
USD/MXN falls to six-month lows below 19.90
The Mexican peso gains momentum against the dollar, also driven by technical factors. The dollar weakened against emerging market currencies due to rising commodity prices. USD/MXN is trading at 19.85, the lowest level since mid-September. The break of 19.90 gave more strength to the Mexican peso, which now seems to be heading towards 19.80, where […]
USD/CAD remains bearish below 1.2500, little moved after US macro data.
A combination of factors dragged USD/CAD lower for the second day in a row. Rising oil prices underpinned the Canadian dollar and put pressure amid a weaker USD. US macro releases failed to impress USD bulls or provide any impetus. The pair USD/CAD remained on the defensive during the early days of the North American […]
EUR/USD climbs to the 1.1160 area, maximum in four weeks
EUR/USD tests levels above 1.1130, confirming short-term bullish tone. German inflation data for March is coming, followed by US employment data. The dollar falls for the second consecutive day in the market. The EUR/USD resumed the bullish run after the correction in the American session on Tuesday and gained momentum after breaking above 1.1135. The […]
AUD/USD gives back early gains and holds steady above 0.7500
AUD/USD gains positive traction on Wednesday, although it lacks continuation buying. Peace hopes in Ukraine cap commodity prices and weigh on AUD. Risk appetite and a pullback in US bond yields weigh on the USD. The pair AUD/USD has given back its early gains and retraced to the lower end of its daily range during […]
Rise to new yearly highs, reverse head-shoulder-shoulder at stake
-637842278415921496.png "Rise to new yearly highs, reverse head-shoulder-shoulder at stake")
EUR/GBP gains traction for the third day in a row and rises to a new yearly high on Wednesday. The previous day’s up move confirms the breakout of the resistance of an inverse head-shoulder-shoulder pattern. The stage now looks set for a move towards testing an almost year old downtrend line. The EUR/GBP cross extends […]
USD/JPY now seen consolidating inside 121.00 to 124.50 – UOB
In light of the recent price action, now USD/JPY is likely to move between 121.00 and 124.50 in the coming weeks, say currency strategists at UOB Group. Featured Comments 24 hour view: “We expected USD/JPY ‘to move volatile between 122.60 and 124.60’ yesterday. Subsequently, USD/JPY moved in a range of 121.97/124.30 before closing at 122.84 […]
The focus is now on 1.3050 – UOB
In the opinion of the currency strategists of UOB Group, GBP/USD risks a further drop below the 1.3050 level In the next weeks. Featured Comments 24 hour view: “We expected GBP/USD to ‘trade sideways into a 1.3060/1.3140 range’ yesterday. GBP/USD subsequently moved between 1.3052 and 1.3157 before closing flat at 1.3095. Further choppy moves not […]
Dollar extends decline along with yields, focus on key EU and US data
This is what you need to know to trade today Wednesday March 30: the renewed optimism for a diplomatic solution to the conflict between Russia and Ukraine on Tuesday allowed risk-on money flows to dominate financial markets and caused the US dollar to lose interest. The dollar remains on the defensive at the start of […]
There is room for a test of 1.1190 – UOB
Currency strategists at UOB Group now suggest that EUR/USD could advance to 1.1190 once 1.1140 is broken. Featured Comments 24 hour view: “EUR/USD’s sharp rise to a high of 1.1136 and subsequent strong close at 1.1085 (+0.97%) came as a surprise (we were expecting a sideways move). The rapid rise seems to get ahead of […]
