AUD / USD rose to fresh multi-week highs near 0.7700. The US Dollar Index remains depressed below 92.00 on Wednesday. With an eye on FOMC Chairman Powell’s speech, Fed’s Beige Book. After posting modest daily gains on Tuesday, the pair AUD/USD It continued to gain bullish momentum and touched its highest level since March 23 […]
Tag: Foreign exchange
EUR / JPY remains range around 130.00, capped by 130.50
EUR / JPY remains in consolidation mode above the 20-day average. Ahead: Fed Beige Book and Powell Speech. EUR / JPY continues in consolidation mode on Wednesday, for more than a week, moving around 130.00. It is trading at 130.20, virtually unchanged for the day. So far this day, in various crossings of the currency […]
Loss of critical support at 108.55 / 53 would intensify weakness – Credit Suisse
The USD / JPY broke support from the 23.6% retracement of the first quarter rally at 108.99, which sees it exposing more important support at 108.55 / 33, which if it yields, would point to a highs being set, say the economists of Credit Suisse. Key statements: “USD / JPY weakness has extended further for […]
EUR / CHF to approach 1.11 by the end of the year – Rabobank
Jane Foley, Senior Currency Strategist at Rabobank, expects EUR / CHF to advance towards 1.11 by the end of this year. However, he warns that the pair is likely to fall to the 1.10 level this quarter. Key statements: “The sensitivity of the CHF to safe haven flows means that it is likely that continue […]
EUR / USD retreats from highs in almost four weeks to 1.1950 zone
The dollar recovers strength against European currencies, continues to weaken on other fronts. EUR / USD near strong resistance located at the 1.1990 zone. EUR / USD rose to 1.1973 on Wednesday, reaching the highest level since March 18. It then took a pullback, finding support at the 1.1950 area. It is trading at 1.1960, […]
Greater consolidation in sight
EUR / JPY extends the consolidation move above the 130.00 level. The next resistance on the upside is the yearly highs near 131.00. The EUR / JPY cross extends the multi-day sideways movement above the key round level of 130.00 so far this week. For the time being, further consolidation around current levels seems possible. […]
The next target on the downside is in the 91.30 area.
The DXY index decline accelerates below the 92.00 level. There is intermediate support at the 50-day SMA at 91.57. The downside move in the DXY index gains additional strength after breaking below the 92.00 level in a rather convincing manner, exposing a deeper pullback at the same time. That said, the 50-day SMA, near 91.60, […]
The further rise could retest the 1.20 level
EUR / USD is approaching the key hurdle in the 1.1980 / 90 region. Higher up is the psychological barrier at the 1.2000 level. EUR / USD continues to push higher and is approaching the 1.1980 / 90 resistance zone. The recovery from the anal lows near 1.1700 (March 31) remains strong for now. The […]
The bulls look to take control and climb above the 1.3800 level
GBP / USD is moving higher for the third day in a row and rises to one-week highs. Sustained strength above the 200 hourly SMA could be seen as a trigger for intraday bulls. Mixed oscillators on hourly / daily charts warrant caution before opening aggressive positions. GBP / USD has built on this week’s […]
AUD / USD rises to three-week highs and approaches the 0.7700 level amid weaker USD
AUD / USD builds on the previous day’s bounce from levels below 0.7600 amid a sustained sell off around the USD. Tuesday’s unimpressive US CPI and falling US bond yields continue to weigh on the USD. Positive risk sentiment benefits the higher perceived risk AUD and supports the pair’s upward move. Downward pressure around the […]
