Recovery remains elusive below $75.40
WTI picks up bids to snap three-day downtrend at monthly low. Bearish MACD signals, previous support line challenge buyers. Upside appears doubtful below 100-DMA, descending trend line from August also challenges the Oil buyers. Seven-week-old horizontal support limits immediate downside ahead of 2023 bottom. WTI crude oil licks its wounds near the one-month low, picking […]
Recovery remains elusive below 0.9255-60 hurdle
USD/CHF picks up bids to extend the previous day’s rebound from weekly low. Convergence of 200-SMA, support-turned-resistance line and a descending trend line from early January appears tough nut to crack for bulls. Impending bull cross on MACD, sustained bounce off 23.6% Fibonacci retracement suggest further recovery. USD/CHF grinds higher past 0.9200, mildly bid while […]
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 […]