EUR/JPY resumes the downside and revisits the 158.00 zone
EUR/JPY fades Thursday’s small uptick and re-shifts its attention to the downside on Friday. Following the ongoing price action, the cross could have now entered a consolidative phase. Against that, the breakout of this theme could encourage the index to challenge the 2023 top at 159.91 (October 24) closely followed by the round level at […]
NZD/USD rebounds from 0.5773 to 0.5807
NZD/USD bounces off new year-to-date (YTD) lows reached at 0.5773 after US economic growth exceeded estimates, which could warrant additional tightening by the US Federal Reserve (Fed). Nevertheless, the pair made a U-turn and traded at 0.5807, gaining a decent 0.10%. The US Commerce Department revealed that the economy in the United States (US) grew […]
EUR/USD adds to Tuesday’s decline and retreats to 1.0570
EUR/USD remains under pressure and deflates to weekly lows in the 1.0570/65 band on Wednesday. If losses accelerate, then the pair could drop to the weekly low of 1.0495 (October 13) prior to the 2023 low of 1.0448 (October 3). The loss of the latter could put a probable visit to the round level of […]
Japanese Yen continues coiling in a right-angled triangle
The Japanese Yen (JPY) makes minor gains against the US Dollar (USD) on Tuesday, with the USD/JPY recovering from a weak start to return to familiar territory just below the key 150 level. The trend is up and biased to extend with the threat of a breakout from a right-angled triangle providing a bullish technical […]
USD/CAD treads waters above 1.3700
USD/CAD retraces intraday losses, trading around 1.3710 during the European session on Monday. The pair gains ground as the US Dollar treads waters to halt the recent losses, driven by higher US Treasury yields. Additionally, increased risk aversion, stemming from the Israel-Hamas military situation, contributes to the USD/CAD pair’s gains. However, the bearish trend in […]
USD/CAD refreshes day low as higher oil prices strengthen the Canadian Dollar
The USD/CAD pair faces selling pressure after a less-confident pullback move to near the round-level resistance of 1.3700 in the early New York session. The Loonie asset is expected to deliver a fresh downside below 1.3680 as the Canadian Dollar has strengthened due to upbeat oil prices. The demand for oil improves due to escalating […]
The New Zealand Dollar recovered some territory
The Kiwi Dollar (NZD) cut its agony and registered modest gains against the US Dollar (USD) during the North American session, as risk aversion took its toll on the financial markets. Traders bracing for US Federal Reserve (Fed) Chair Jerome Powell’s speech, pereceived his remarks as dovish, while tensions in the Middle East remain high. […]
EUR/JPY comes under selling pressure around the 158.00 zone
EUR/JPY reverses two consecutive daily gains and faces some downside pressure near 158.00 on Wednesday. Considering the ongoing performance, further consolidation appears in store for the cross for the time being. In the meantime, the breakout of this range could put the September high of 158.65 (September 13) to the test ahead of the 2023 […]
GBP/USD attracts some buying on Monday
The GBP/USD pair catches fresh bids on the first day of a new week and sticks to its intraday gains through the early part of the European session. Spot prices currently trade around the 1.2175-1.2180 region, up 0.30% for the day, and for now, seem to have snapped a two-day losing streak to a one-week […]
USD/JPY snaps the recent winning streak ahead of US data
USD/JPY trades lower around 149.70 during the European session on Friday, snapping a three-day winning streak that began on Tuesday. Despite reaching weekly highs, the USD/JPY pair has experienced a pullback, attributed to the retreat in the US Dollar (USD). The US Dollar Index (DXY) trades lower around 106.30 by the press time, retreating from […]
