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AUDUSD hit new 8-month high in Asian session on Wednesday, lifted by higher than expected Australian July CPI, but was so far unable to hold gains above 0.6800 mark. Although subsequent dip was shallow, it sends initial warning that larger rally from 0.6348 (Aug 5 spike low) might be running out of steam. Triple consecutive […]

The post AUD/USD Outlook: Lacks Strength to Hold Gains on Above Forecast Australian CPI appeared first on Action Forex.

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USDJPY Gets Assistance from 143.40 Support

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03/01/2024

NZD/USD Technical: Pulled Back Towards Potential Bullish Inflection Zone

Medium-term uptrend phase from 26 October 2023 remains intact. 6240 is the potential bullish inflection level. Hourly RSI has flashed a bullish momentum breakout condition. The Kiwi (NZD/USD) has been oscillating within a medium-term uptrend phase in place since 26 October 2023 low of 0.5774. So far, it has rallied by +596 pips/+10.3% to print […]
18/06/2024

US Dollar Index Outlook: Remains Constructive Ahead of Key Economic Data

The dollar index rose on Tuesday, keeping overall positive sentiment, driven by expectations for Fed rate cut in November and recent political turmoil in the Europe, which deflated Euro. Traders look for fresh signals about the central bank’s rate cut path, with today’s release of US May retail sales to provide more details about the […]
26/03/2024

WTI Oil Outlook: Takes a Breather after Monday’s 1.40% Advance

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