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Key insights from the week that was. Australian Q4 GDP printed broadly as expected, rising 0.2% (1.5%yr). Once again, consumer spending was in the spotlight, up just 0.1% in Q4 following a –0.2% decline in Q3 (revised down from zero) to be broadly unchanged versus end-2022. The picture is much weaker when one considers population […]

The post Cliff Notes: Waiting in Anticipation appeared first on Action Forex.

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12/12/2023

USD/JPY Technical: Potential JPY Bullish Pressure Reasserts

The 2-day rebound seen in USD/JPY has reached 146.20/70 minor resistance zone. The movement of USD/JPY in the past month has a significant direct correlation with the US 10-year Treasury/10-year JGB yield spread. The short-term to medium-term trends of the US 10-year Treasury/10-year JGB yield spread remain bearish. Watch the 146.70 key short-term resistance on […]
08/07/2024

USDCAD Wave Analysis

USDCAD reversed from powerful support level 1.3620 Likely to rise to resistance level 1.3700 USDCAD currency pair just reversed up from the powerful support level 1.3620 (which has been steadily reversing the pair from the start of May). The support level 1.2630 was strengthened by the lower daily Bollinger Band and by the 50% Fibonacci […]
10/09/2024

USDJPY Lacks Direction, Looks to US CPI

USDJPY hovers around 20-period moving average (SMA) Some upside momentum still present Next move will likely depend on US CPI report USDJPY is consolidating around its 20-period SMA after the rebound from the one-month low of 141.76 quickly ran out of steam. The RSI is fluctuating right beneath the 50-neutral mark, but the MACD continues […]