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AUD/USD declined below the 0.6720 and 0.6700 support levels. NZD/USD is also moving lower and might struggle to recover above 0.6200. Important Takeaways for AUD/USD and NZD/USD Analysis Today The Aussie Dollar started a fresh decline from well above the 0.6700 level against the US Dollar. There is a connecting bearish trend line forming with […]

The post Market Analysis: AUD/USD and NZD/USD Trim Gains, Are Bears Back? appeared first on Action Forex.

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24/05/2024

Canadian Dollar Eyes Retail Sales

The Canadian dollar is unchanged on Friday. USD/CAD is trading at 1.3726 in the European session at the time of writing at the time. Canada releases retail sales later, which may trigger some volatility in the North American session. The US will release durable goods and consumer confidence data. Canada’s retail sales expected to remain […]
05/08/2024

EUR/GBP: Overbought Conditions Warn of Correction of Steep Three-Day Rally

EUR/GBP – strong three day rally (the cross was up 2.1%) started to lose traction after hitting fresh high of nearly three months on Monday (0.8596). Overbought daily studies warn of partial profit taking following steep ascend, which will mark positioning for fresh push higher. Broken 200DMA offers initial support at 0.8558), followed by more […]
03/03/2024

ECB Preview – Policy Normalisation in Sight

Next week, on Thursday 7 March, the ECB is set to take another step in its policy normalisation process, from a restrictive monetary policy stance towards a neutral stance. The new staff projections on growth outlook are expected to be revised lower this year and broadly unchanged in 2025/2026. Inflation is set to be revised […]