The RBA just cut interest rates by 25 basis points from 3.00% to 2.75% earlier in today’s Asian session. This pushed AUD/USD below the support level around 1.0230 to a low of 1.0178 right after the statement.
After last week’s strong selloff, USD/CAD is currently stalling around the 1.0075 resistance turned support level. This is in line with the 50% Fibonacci retracement on the 4-hour time frame.
GBP/USD is moving closer to testing the top of the rising channel on the 1-hour time frame, although the pair seems to be retracing at the moment. Weak U.S. data has been propping up this pair so...
The U.S. will print its Q1 2013 GDP reading in today’s U.S. session and the report is slated to show 3.0% economic growth for the quarter, higher than the previous reading of 0.4%.
On its 1-hour time frame, GBP/USD is testing the falling trend line connecting its recent highs from the second week of April. On top of that, the pair is also stalling around the 1.5300 major psychological level....
EUR/USD is currently testing the 1.3000 major psychological area, as the path of least resistance is downwards. After all, fundamentals in the euro zone remain very weak as the region grapples with several financial and economic challenges.
The recent risk-off market environment has pushed AUD/USD down from the top of the long-term range around 1.0600 towards the bottom. Another test of the 1.0200 major psychological level could be in the cards for this week.
A potential reversal is looming on GBP/USD as the pair formed a complex head and shoulders pattern on the 4-hour time frame.The pair is currently testing the neckline around the 1.5250 minor psychological support level.
AUD/USD had a sharp selloff since Thursday last week as weak Chinese data and weak Australian data have been weighing the pair down. The recent release of the weaker than expected Chinese GDP, which came short at...
EUR/USD has been having a difficult time breaking past the 1.3100 major psychological resistance level. After all, this area has served as support and resistance in the past as plenty of buyers and sellers are keeping a...
