Recovery remains elusive below 1.3520
USD/CAD picks up bids to reverse intraday losses, probes two-day downtrend. Multiple moving averages stand tall to challenge recovery moves. MACD, RSI conditions suggest further weakness but 10-week-old support line restricts immediate downside. USD/CAD licks its wounds during a sluggish Monday morning as the pre-Fed blackout joins the Lunar New Year holidays in China. Even […]
Bulls approach 1.2435 hurdle amid five-day uptrend
GBP/USD picks up bids to refresh intraday high; extends previous two-week winning streak. RSI conditions, six-week-old resistance line challenge Cable buyers. 21-SMA, ascending trend line from early January puts a floor under the price. GBP/USD stays on the front foot as bulls keep the driver’s seat during early Monday morning in Asia, after a two-week […]
Bounces off 14-month low but stays on the bear’s radar below 0.9200
USD/CHF consolidates recent losses around the lowest levels since November 2021. A two-month-old bearish channel, downbeat oscillators keep sellers hopeful. Bear cross, clear downside break of key ascending trend line adds strength to the bearish bias. Recovery remains elusive unless the quote stays below 200-DMA. USD/CHF picks up bids to lick its wounds around the […]
Double tops around 1.2250 tease Cable sellers ahead of key UK data
GBP/USD retreats from intraday high to pare the biggest weekly gain since late November. RSI pullback from nearly overbought conditions adds strength to the pullback moves. 200-SMA, weekly support line appears crucial challenge for bears. UK monthly GDP, output and trade numbers for November will be crucial to watch. GBP/USD prints mild losses around 1.2200 […]
Juggles around 140.00 after a vertical sell-off
The formation of Double Top amid less buying interest led to a sheer fall in the Euro bulls. EUR/JPY is hovering around the critical support at 140.00 and an absence of follow-up buying indicates the Japanese Yen’s strength. A bear cross, represented by the 20 and 50-EMAs, adds to the downside filters. The EUR/JPY pair […]
Dribbles inside weekly triangle below 0.6400
NZD/USD remains sidelined inside a short-term symmetrical triangle formation. Sustained trading beyond the key HMAs, steady RSI favor buyers. Sellers need to break 0.6190 to dominate further. NZD/USD makes rounds to 0.6370-75 during early Wednesday, after snapping a two-day uptrend near a monthly top the previous day. In doing so, the Kiwi pair remains inside […]
Further downside hinges on 131.30 break
USD/JPY remains pressured for third consecutive day as sellers poke one-week-old support line. Bearish MACD signals, downbeat RSI signal further south-run. Any recovery remains elusive below 135.00 resistance confluence. USD/JPY holds lower ground near the intraday bottom surrounding 131.30 as bears flirt with the short-term key support during early Tuesday. In doing so, the Yen […]
Refreshes multi-day low as bears approach 6.7650 support
USD/CNH drops to the lowest levels since August 17, 2022. Clear break of 200-DMA, bearish MACD signals favor sellers as they eye two-month-old descending support line. Previous support line from June adds to the upside filters. USD/CNH takes offers to renew a multi-day low around 6.7900 heading into Monday’s European session. In doing so, the […]