Intraday Analysis – USD struggles to bounce
EURUSD continues higher The euro finds support from upbeat PMIs in the eurozone. On the daily chart, the close above last May’s high of 1.0770 continues to fuel the upward thrust. The price action has so far consolidated its gains above this resistance-turned-support, making it a major level to keep the single […]
Intraday Analysis – AUD keeps high ground
AUDUSD rallies back The US dollar continues downward as the market rules out a 50 basis point hike next month. The pair has recouped most of the losses from last week’s sell-off after bouncing off 0.6870 which coincides with the 20-day moving average. This is a sign that the directional bias has […]
Intraday Analysis – USD heads lower
USDJPY struggles to rebound The US dollar edges lower due to bearish inertia across the board. On the daily chart, the pair is still hovering above last May’s lows of 126.50 as the bulls strive to keep the outlook rosy in the medium-term. The price action has stabilised above 127.80 with the […]
GBPUSD picks up bids to refresh intraday high
GBP/USD Price Analysis: Bulls approach 1.2435 hurdle amid five-day uptrend GBP/USD stays on the front foot as bulls keep the driver’s seat during early Monday morning in Asia, after a two-week uptrend. That said, the Cable pair renews its intraday high near 1.2410 while rising for the fifth consecutive day as of late. In doing […]
Intraday Market Analysis – AUD seeks support
AUDUSD falls back The Australian dollar softened after an uptick in December’s unemployment rate. A cut through 0.6940 has invalidated this demand zone, elbowing the bulls to the side. This left a shooting star on the daily chart, which may foreshadow a U-turn. 0.6820 near the base of a previous bullish breakout […]
Intraday Market Analysis – USD still under pressure
USDJPY gives up gains The Japanese yen tumbled after the BoJ shattered hopes that it would wind down its stimulus policy. Still the dollar’s short-lived surge turned south at a previous demand zone around 131.50 which coincides with the 20-day moving average. This is a sign that the mood has remained cautious […]
Intraday Market Analysis – CAD consolidates gains
USDCAD builds base The Canadian dollar steadied after inflation eased more than expected in December. From the daily chart’s perspective, the pair is still in a prolonged consolidation between 1.3230 and 1.3800. A bounce off the daily support at 1.3320 may lead to a narrower range. A close above the immediate hurdle […]
Intraday Market Analysis – USD struggles to find floor
EURUSD keeps high ground The US dollar struggles on speculation that the Fed is nearing the end of its tightening. The pair is holding on to its gains after breaking above May’s high of 1.0780. A bearish RSI divergence suggests a deceleration in the momentum and may foreshadow a potential pause in […]
Intraday Market Analysis – Dax keeps bullish bias
USDCHF hits resistance The US dollar softened after Fed policymakers cheered the news of easing inflation. On the daily chart, the pair has remained under pressure after a tentative break below last April’s low of 0.9200. The current rebound from this critical level has led to a consolidation. Though the greenback must […]
Intraday Market Analysis – USD continues to struggle
NZDUSD extends gains The US dollar struggles as a slowing CPI foreshadows a dovish Fed. On the daily chart, the upward bias has remained intact after the kiwi bounced off 0.6190. The price then consolidated its gains after clearing the major supply zone around 0.6400. The 38.2% Fibonacci retracement level at 0.6330 […]