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DXY: The DXY (US Dollar Index) chart currently has a bearish overall momentum, and there’s potential for a bearish continuation towards the 1st support level. The 1st support at 103.72 is categorized as a pullback support, suggesting that it could be a significant level where buying interest may emerge, potentially providing support for the DXY. […]

The post Technical Outlook and Review appeared first on Action Forex.

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07/08/2024

AUD/USD: Hawkish RBA and Dovish BoJ Underpin Recovery

AUDUSD recovery from Monday’s spike low (0.6348, the lowest since early Nov 2023) picks up on Wednesday. Hawkish RBA on Tuesday, with policy diverging from other major central banks, fading fears about US recession and the latest dovish shift from BOJ, were the key positive factors for Aussie dollar. Fresh acceleration higher (the pair was […]
30/07/2024

Central Bank Meetings This Week Are Reason for Volatility

The week ahead will be packed with significant economic events, so the market behaviour could turn into quite a bumpy ride this week. On Wednesday morning, the Bank of Japan will announce its rate decision and the parameters of its balance sheet asset purchase programme. On average, the purchases are expected to be halved, but […]
09/04/2024

AUD/USD: Aussie Dollar Keeps Bullish Bias ahead of US Inflation Report

AUDUSD is trading within a narrow range on Tuesday morning but keeps slight bullish bias following Monday’s 0.5% advance and a positive signal on daily close above 0.6597 (100DMA / Fibo 61.8% of 0.6675/0.6480 bear-leg). Aussie dollar was boosted by rise in iron ore, but markets are likely to reduce the speed until release of […]