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Key Highlights AUD/USD gained traction above the 0.6700 resistance zone. A connecting bullish trend line is forming with support near 0.6745 on the 4-hour chart. EUR/USD and GBP/USD are consolidating above key support zones. The US GDP could grow 5.2% in Q3 2023. AUD/USD Technical Analysis The Aussie Dollar started a steady increase above the […]

The post AUD/USD Rally Pauses, Traders Cautious As US GDP Approaches appeared first on Action Forex.

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07/03/2024

USD/JPY Outlook: Japanese Yen Accelerates Dains vs Dollar on Growing Signals of BoJ Policy Shift

Bears accelerate on Thursday (USDJPY was down 1% in Asian / European session) extending steep fall into third straight day. Fresh weakness broke below initial Fibo support at 148.37 (23.6% of 140.25/150.88 rally, reinforced by daily Kijun-sen) generating initial reversal signal and warning of deeper drop. Bears cracked 100DMA (147.81) which produced some headwinds, with […]
22/12/2023

GBP/USD Shrugs After Mixed UK Data

UK retail sales jump 1.3%, GDP contracts by 0.1% US to release PCE Price Index on Friday The British pound is drifting on Friday. In the European session, GBP/USD is trading at 1.2701, up 0.08%. UK retail sales rebound but GDP contracts UK retail sales jumped 1.3% in November m/m, bouncing back from 0% in […]
03/04/2024

EUR/USD Drifting as Eurozone Inflation Drops

The euro is showing little movement on Wednesday. In the European session, EUR/USD is trading at 1.0777, up 0.05%. Eurozone inflation ticks lower Inflation in the eurozone continues to decline. March CPI eased to 2.4% y/y, down from 2.6% in February and below of the market estimate of 2.6%. This matched November’s 28-month low and […]