Cable is sitting right on the ascending channel support visible on its daily time frame. A bounce could take it back up to the resistance at the 1.3250 minor psychological level while a break could spur a longer-term selloff. The 100 SMA has just...
USD The US dollar got a strong boost from hawkish remarks by FOMC member William Dudley in his testimony. He affirmed US economic growth and how it has been well-distributed, citing that wage growth could pick up once productivity does. He also emphasized...
AUDNZD has been trending higher, moving inside an ascending channel visible on its 1-hour time frame. The pair has just bounced off support and could be due for a test of resistance soon. The 100 SMA is above the longer-term 200 SMA so the path...
USD The dollar had a mixed round as it reacted mostly to currency-specific events. US data was all weaker than expected last week, casting some doubt on the Fed's ability to hike rates again. Building permits and housing starts both fell short of estimates...
GBPNZD has just bounced off its descending channel resistance and is making its way towards support. If the bottom at the 1.7300 handle holds, price could make another test of resistance. Stochastic is already indicating oversold conditions, which...
USD The US dollar got a boost from a relatively upbeat FOMC statement even though CPI and retail sales figures fell short of estimates prior to the announcement. The Fed reiterated its plan to hike rates three times this year and Yellen even hinted...
GBPNZD is trending lower but has just pulled up to the channel resistance around the 1.7750 minor psychological mark. If this area keeps gains in check, the pair could head back down to support at the 1.7200 handle. The 100 SMA is below the longer-term...
USD The US dollar took a huge hit after economic reports turned out weaker than expected. Headline retail sales fell 0.3% instead of posting the projected 0.1% uptick while the core reading also showed a 0.3% drop. Headline CPI is down 0.1% versus expectations...
EURCAD recently broke below a rising wedge formation visible on its 4-hour time frame, signaling that bearish pressure has returned. Price dipped to the 1.4800 area before showing signs of a pullback. Applying the Fibonacci retracement tool on...
USD The dollar was able to hold its ground as traders are pricing in a relatively upbeat FOMC statement. A rate hike of 0.25% is widely expected but the Fed might hint that they could slow down their pace of tightening later this year. Also, the...
