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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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04/04/2024

Relatively Calm Bitcoin

Market picture The crypto market rolled back another 0.9% in 24 hours to a capitalisation of $2.48 trillion – the lowest in a week and a half. Bitcoin reversed by the same amplitude, while there was no uniformity in dynamics among the top coins. Ethereum was unchanged for the day, remaining at $3300, Solana lost […]
23/07/2024

US GDP and PCE Inflation Up Next Before July FOMC

Fed to get final clues on growth and inflation before July meeting But with traders more preoccupied with politics, will the data move the dollar? Preliminary GDP is due Thursday and PCE inflation on Friday, both at 12:30 GMT Fed still wants to see more progress The recent inflation reports have brought some much needed […]
25/06/2024

Tech Down, Energy Up

The selloff in Nvidia deepened yesterday and sent the shares into the correction territory following a 10% selloff. Nvidia shares erased around $430 bn in market cap over the past three sessions. The selloff hit suddenly, right after the company stole the status of the world’s most valuable company from Microsoft last week. There has […]