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Key Highlights EUR/USD declined and retested the 1.0880 support zone. It traded below a key bullish trend line at 1.0900 on the 4-hour chart. GBP/USD is attempting a fresh increase above the 1.2650 resistance. USD/JPY climbed higher above the 143.20 resistance zone. EUR/USD Technical Analysis The Euro started a fresh decline from the 1.1140 zone […]

The post EUR/USD Holds Support But Can It Recover? appeared first on Action Forex.

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11/09/2024

Market Analysis: AUD/USD and NZD/USD Trim Gains, Are Bears Back?

AUD/USD declined below the 0.6720 and 0.6700 support levels. NZD/USD is also moving lower and might struggle to recover above 0.6200. Important Takeaways for AUD/USD and NZD/USD Analysis Today The Aussie Dollar started a fresh decline from well above the 0.6700 level against the US Dollar. There is a connecting bearish trend line forming with […]
13/06/2024

Dollar Falls After Inflation Data: Is a Change in Medium-Term Trends on the Horizon?

The second consecutive decline in the US core consumer price index caused a sharp drop in the American currency across the board. For instance, the GBP/USD pair rose by 120 points within a couple of hours, attempting to strengthen above 1.2800. The EUR/USD pair closed Monday’s “price gap” and tested 1.0850, while the USD/JPY pair […]
02/08/2024

AUDUSD Declines to Fresh 2-month Low

AUDUSD extends retreat to its lowest since May 1 Oscillators are flagging oversold conditions AUDUSD has been in a steady retreat since July 11, violating both its 50- and 200-day simple moving averages (SMAs). Although the pair posted a fresh two-month low on Wednesday, the risk of a bounce to the upside has increased given that the […]