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AUDUSD edges higher on Thursday morning after bears repeatedly failed to clear 200DMA support (0.6627). Recovery is in its early stage and needs more work at the upside to generate firmer positive signal, although near-term action to remain constructive while above 200DMA. Repeated daily close above here to boost hopes of stronger recovery and Friday’s […]

The post AUD/USD Outlook: Bears Take a Breather appeared first on Action Forex.

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04/04/2024

Dollar Index: Remains at the Back Foot Ahead of Key US Data

The dollar index remains in red for the third straight day and extend pullback from new multi-week high (104.83). Fresh bears pressure pivotal supports at 103.84/80 (Fibo 38.2% of 102.26/104.83 / top of thick daily Ichimoku cloud), with more obstacles seen at 103.60/40 zone (converging 20/55/200DMA’s / 50% retracement). Firm break of these supports would […]
24/05/2024

USD/JPY: JPY Weakness Back in Vogue At Least for the Short-Term

The 10-year JGB yield has continued to push higher to 1% together with 3-month and 6-month overnight indexed swap (OIS) rates in Japan at 0.12% to 0.17% The JPY has failed to strengthen despite the bullish movements in JGB yields and OIS rates. Broad-based US dollar strength and the deceleration in the lagging core-core CPI […]
19/01/2024

EURCHF Wave Analysis

EURCHF broke resistance level 0.9410 Likely to rise to resistance level 0.9500 EURCHF currency pair recently broke the key resistance level 0.9410 intersecting with the 50% Fibonacci correction of the previous downward impulse from December The breakout of the resistance level 0.9410 accelerated the active short-term ABC correction 4. Given the strong Swiss franc sales […]