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The AUD/USD pair remains under pressure, hovering around 0.6528 on Friday. Earlier this week, the Australian dollar faced significant challenges, with a sharp decline against the USD. Efforts to stabilise the exchange rate have seen limited success thus far. The stronger-than-expected economic data from the US has dampened hopes for extensive interest rate cuts by […]

The post Australian Dollar Struggles Amid Robust US Economic Data appeared first on Action Forex.

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03/02/2024

Canada’s January Unemployment Rate to Hit 5.9%—Highest Since Pandemic

Canadian jobs numbers for January will be centre stage next Friday as policymakers and market watchers look for signs of deterioration in the labour market. The data for the first month of 2024 will tell a similar story to the one we have observed over 2023—employment is rising but not quickly enough to prevent an […]
06/06/2024

AUDJPY Wave Analysis

AUDJPY reversed from support level 103.00 Likely to rise to resistance level 104.50 AUDJPY currency pair recently reversed up from the key support level 103.00 (which has been reversing the price from the middle of May). The support level 103.00 was strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of […]
23/07/2024

GBP/USD Sees Pullback But Key Support Intact

Key Highlights GBP/USD started a downside correction from the 1.3050 zone. It traded below a connecting bullish trend line with support at 1.2970 on the 4-hour chart. Gold prices corrected gains and traded below $2,425. Oil prices extended losses and declined below the $80.00 level. GBP/USD Technical Analysis The British Pound remained in a positive […]