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Key Highlights AUD/USD gained bearish momentum below the 0.6750 support. A connecting bearish trend line is forming with resistance at 0.6690 on the 4-hour chart. Gold prices rallied to a new all-time high at $2,758 before it saw a minor pullback. EUR/USD declined further and traded below 1.0800. AUD/USD Technical Analysis The Aussie Dollar started […]

The post AUD/USD Falls Hard: Can It Recover from The Tumble? appeared first on Action Forex.

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09/08/2024

GBP/USD: Bullish Bias Above Rising Daily Cloud

Cable remains at the front foot and extends recovery on Friday morning, after fresh bulls registered break and close above the top of rising daily cloud. Fading US recession fears and solid Chinese economic data revived risk sentiment while sterling gets support from diverging US/UK monetary policies (bets for the size of Fed rate cuts […]
06/09/2024

Bitcoin Pressured by Risk-Off Mood

Market Picture The pressure on risk assets continues, pushing the crypto market capitalisation back below the bi milestone of $2 trillion. This level acted as resistance in early February and support since May, except for a brief dip in early August. The horizontal correction pattern risks turning into a downtrend if the market breaks below […]
05/06/2024

NZDUSD Extends Recovery to Fresh Highs

NZDUSD posts an almost 3-month high on Tuesday But the risk of an impending correction increases Oscillators approach overbought conditions NZDUSD has been in an aggressive uptrend following its 2024 bottom of 0.5851 in mid-April. On Tuesday, the pair stormed to its highest level since March 8 before sustaining minor losses probably due to some profit taking. […]