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AUDUSD is holding within a narrow range around 0.6600 handle on Wednesday, after the pullback in past three days started to run out of steam. Tuesday’s long-legged Doji signaled indecision and hinting that corrective phase might be close to the end, as picture on daily chart remains bullish (strong positive momentum / MA’s in bullish […]

The post AUD/USD: Starts to Regain Traction After Shallow Pullback appeared first on Action Forex.

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31/07/2024

USDJPY’s Decline Faces 200-Day SMA

USDJPY extends its retreat from recent 38-year high The bears tested 200-day SMA for first time since January 9 Momentum indicators start to warn of oversold conditions USDJPY has been in a steady retreat from its 38-year peak of 161.94, falling to an almost three-month low on Wednesday. Meanwhile, the pair has reached a tipping point as it […]
28/11/2024

GBP/USD Eyes Comeback: How Long Can It Hold?

Key Highlights GBP/USD started an upside correction from the 1.2500 support. It cleared a key contracting triangle with resistance at 1.2600 on the 4-hour chart. Bitcoin tested the $91,000 zone before the bulls appeared. USD/JPY declined heavily below the 153.50 and 152.00 support levels. GBP/USD Technical Analysis The British Pound found support near 1.2500 against […]
02/09/2024

Swiss Franc Eyes Swiss CPI and GDP

The Swiss franc has edged higher on Monday. USD/CHF is currently trading at 0.8514, up 0.16% on the day. With US markets closed for Labor Day, we’re unlikely to see much movement from the US dollar today. Swiss retail sales rebounds Switzerland’s retail sales for July surprised on the upside, with an impressive gain of […]