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AUDUSD comes under selling interest this week But stays within sideways range A break below 0.6485 may turn the outlook bearish For the picture to brighten, a move above 0.6615 may be needed AUDUSD was sold this week, after the bulls struggled to overcome the 0.6575 barrier.  In the bigger picture, the pair is trading back […]

The post Will AUDUSD Exit the Range Again? appeared first on Action Forex.

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04/04/2024

Dollar Index: Remains at the Back Foot Ahead of Key US Data

The dollar index remains in red for the third straight day and extend pullback from new multi-week high (104.83). Fresh bears pressure pivotal supports at 103.84/80 (Fibo 38.2% of 102.26/104.83 / top of thick daily Ichimoku cloud), with more obstacles seen at 103.60/40 zone (converging 20/55/200DMA’s / 50% retracement). Firm break of these supports would […]
05/07/2024

XAU/USD Outlook: Gold Price Remains at the Front Foot Ahead of US NFP Report

Gold price rose further on Friday morning and pressuring important technical barriers ahead of release of key US NFP report. The metal rose around 1.7% for the week so far, benefiting from weaker dollar on soft US macroeconomic data, which point to a slowing US economy and boost bets for possible Fed rate cut in […]
18/12/2023

CADJPY Wave Analysis

CADJPY reversed from support level 104.60 Likely to rise to resistance level 107.00 CADJPY today reversed up from the key support 104.60 (which has been repeatedly reversing the price from July) standing below the lower daily Bollinger Band. The key support 104.60 was strengthened by the 38.2% Fibonacci correction of the upward impulse from March. […]