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Fundamental Analysis The USD has been strengthening this week, driven by mixed U.S. economic data and increased demand for safe-haven assets amid global uncertainty. Against the AUD, the dollar has gained due to the weakness of the Australian dollar, which has been affected by falling commodity prices and the weak Australian GDP report. Australia’s Q2 […]

The post USDX and AUDUSD at Critical Levels: Key Supply and Demand Zones to Watch appeared first on Action Forex.

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Canadian Dollar Steady Ahead of BoC Decision

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02/02/2024

Australian Dollar Falls to 10-Week Low after Fed Decision

The Australian dollar is sharply lower on Thursday after the Fed policy meeting a day earlier. In the European session, AUD/USD is trading at 0.6514, down 0.78%. Earlier, the Australian dollar dropped as low as 0.6508, its lowest level since November 20. Powell says March rate cut unlikely The Federal Reserve met on Wednesday and […]
16/01/2024

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently exhibits a neutral overall momentum, suggesting a lack of a clear directional bias in the US Dollar. Price could potentially fluctuate between the 1st support and 1st resistance levels. Here are the identified support and resistance levels: 1st support at 101.90 is identified as an overlap support, […]
06/06/2024

European Central Bank Kicks Off Its Rate Cut Cycle

Summary The European Central Bank (ECB) today joined the growing group of advanced economy central banks that have begun their monetary easing cycles, lowering its Deposit Rate by 25 bps to 3.75%. ECB policymakers cited the past drop of inflation and the improving inflation outlook as key factors behind their decision to lower interest rates. […]