GBP / USD catches some aggressive buying on Monday and surpasses the 1.3000 psychological level. The technical setup favors the bulls, although it warrants some caution before opening new positions. A sustained move above a one-week downtrend line is needed to confirm any further gains. The GBP / USD pair has extended its strong gains […]
Tag: Foreign exchange
US Dollar DX Index regains some ground and returns to 93.30
The DXY index remains under pressure at multi-day lows near 93.20. Stimulus hopes continue to weigh on the US dollar on Monday. The NAHB index improved further to 85 points in October (from 83). The US Dollar DXY Index, which measures the strength of the dollar against a basket of major currencies, remains under selling […]
EUR / USD firm, approaching 1.1800
EUR / USD extends the upside to around 1.1800. The market buzz about the US stimulus package gives the pair additional wings. Fed’s Powell participates in a panel discussion on digital currencies. The European currency and its risky peers operate in a better mood and push the EUR/USD near the 1.18 barrier. EUR / USD […]
GBP / JPY jumps to 137.22 but fails to hold above 137.00
Headlines of economic data overshadow those of Brexit for a few hours. GBP / JPY in the face of dollar weakness and a certain appetite for risk. The GBP / JPY is rising on Monday and has just climbed to 137.22, the highest level since October 14. However, the cross could not hold firmly above […]
USD / CAD remains depressed near session lows, around 1.3165 region
USD / CAD saw some selling for the second consecutive session on Monday. Market optimism and US political uncertainties weighed on the dollar as a safe haven. Softer oil prices undermined the loonie and could help limit deeper losses for now. The pair USD / CAD it traded with a slight negative bias during the […]
NZD / USD makes new highs near 0.6650
Kiwi gains momentum after data from China and elections in New Zealand. NZD / USD rises for the second day, rebounding from the 100-day average. The NZD / USD is rising on Monday with a positive tone, although not yet fully recovered from the fall he had last Thursday. The apatite for risk and the […]
USD / JPY flirts with session lows, around the 105.30 zone
The emergence of new selling around the USD put some pressure on the USD / JPY. Risk appetite, rising US bond yields could help limit losses for now. The USD intraday sell bias accelerated during the mid-European session and dragged the pair down USD/JPY to daily lows, around the 105.30 region in the last hour. […]
Next bearish target is at 93.00
The DXY loses momentum quickly and falls to lows in several days. The next significant support is around the 93.00 area. After another failure of the tough six-month resistance line at the 93.80 / 90 band, the US Dollar Index (DXY) had a downward correction to the 93.20 region so far, to lows at six […]
EUR / USD poised for a return to interim support at 1.1695 – Commerzbank
Axel Rudolph, FICC Senior Technical Analyst at Commerzbank, expects the EUR / USD pair to revisit the 1.1695 zone and see further losses to 1.1612. Key statements: “EUR / USD failed to remove support offered by the August low at 1.1695 last week, and although we are seeing a small rebound from here, the indications […]
A break of 0.7005 seems unlikely – UOB
AUD / USD is facing a further decline, but a move to levels below 0.7005 seems unlikely at the moment, suggested currency strategists at UOB Group. Key statements: 24-hour outlook: “Our expectation that” there is room for the AUD to move to 0.7045 first before current weakness stabilizes “did not materialize as the AUD traded […]