AUD/USD bounces on RBA but still faces Powell hurdle
The RBA delivered with a 25 bps rate hike as expected but it was a change to the forward guidance that really helped to give the aussie a boost so far today. A notable change is that the central bank removed the wording that policy is not on a “pre-set course”, instead choosing to emphasise […]
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 […]
En route 0.8860 hurdle during four-day uptrend
EUR/GBP grinds near weekly high, up for the fourth consecutive day. Clear rebound from 50% Fibonacci retracement, upside break of 100-SMA favor bulls. One-week-old resistance line restricts immediate upside ahead of monthly top. EUR/GBP picks up bids to 0.8845 as bulls poke intraday high, as well as the weekly top, heading into Wednesday’s European session. […]
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 […]