The inability to continue the move through .6543 will signal the presence of buyers. Taking out .6543 then turning higher for the session will put the NZD/USD in a position to form a potentially bullish closing price reversal bottom. If confirmed, this could lead to a 2 to 3 day counter-trend rally.
After spending the majority of the day moving sideways in a tight range below the 1.33 handle, the USD/CAD pair gained traction during the NA session and rose to its highest level since June of 2017 at 1.3399 after the loonie came under a heavy selling pressure following the Bank of Canada's monetary policy statement. As of writing, the pair is trading at 1.3375,...
he EUR/USD pair dropped to tests Monday’s low at 1.1317 and rebounded. It trades at 1.1340 but remains under pressure amid a rally of the US dollar. arlier today, the pair rose to the 1.1420 area, but again it found resistance and weakened. During the US session, the dollar gained momentum and pushed EUR/USD to the downside.
To the downside, the immediate support...
According to the Moody's ratings agency, US-China tariffs threaten Japan's domestic economy, especially the Japanese automotive industry.
Japan's corporate earnings profits are expected to begin decelerating in 2019, and although the direct impact of US-CHina tariffs is largely manageable, Japan's auto industry remains largely exposed to risk factors.
Moody's is...
This week sees a quiet open for the Aussie on the economic calendar, but another showing of the Reserve Bank of Australia's latest Meeting Minutes is slated for late Monday.
Traders, be on the look out to see how the Aussie central bank chooses to grapple with the still-lopsided housing market within Australia's domestic economy.
Although the AUD/USD did close...
EUR/GBP rallied hard by just under 180 pips on Thursday, making for one of the biggest session's gains in recent history. The move comes as the U.K. Prime Minister Theresa May’s leadership has been called into question following the Brexit Secretary Dominic Raab cabinet minister Esther McVey resignations less than just 24 hours after she PM May had received the...
