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NZD remains on the back foot against USD NZDUSD has finally broken below its one-year-long rectangle Momentum indicators acknowledge the current bearish move NZDUSD is recording another red candle today and it is trading below the lower boundary of the one-year-old rectangle and the busy 0.6060-0.6092 area. It has actually registered a new 2024 low […]

The post NZDUSD in the Red Again Ahead of Fed appeared first on Action Forex.

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24/04/2024

Euro Gains Against Dollar Amid Mixed Economic Signals

The EUR/USD pair rose to 1.0707 on Wednesday, driven by increased local risk appetite and the belief that the currency was significantly oversold against the US dollar. This resurgence indicates a temporary rebalancing in the currency market. In the US, newly published statistics provide fodder for economic analysis. Sales of new homes in March showed […]
12/12/2023

CHFJPY Wave Analysis

CHFJPY reversed from support level 162.40 Likely to rise to resistance level 167.35 CHFJPY recently reversed up sharply from the key support level 162.40, which has been reversing the pair from the start of August. The upward reversal from the support level 162.40 created the daily Japanese candlesticks reversal pattern Long legged Doji. Given the […]
05/12/2023

AUD/USD: Challenging Key 200-Day Moving Average Post RBA

RBA left its policy cash rate unchanged at 4.35% in line with expectations. A slight dovish tonality in the monetary policy statement has reduced the expectations of a “hawkish pause”. Technical analysis suggests that the medium-term uptrend phase of the AUD/USD from its 26 October 2023 low remains intact. Watch the 0.6570 pivotal support. Australia’s […]