AUD/USD experiences a notable increase of 1.8% over the past two days, reaching new four-week highs at 0.7120. Speculation regarding renewed discussions between the US and Iran has enhanced market sentiment while negatively impacting the safe-haven USD. Later on Tuesday, the US PPI is anticipated to validate that inflation increased in March. The Australian Dollar … Read more
GBP/USD is currently at 1.3515 on Tuesday morning, marking the highest level in six weeks. This extends a winning streak of seven sessions, resulting in an increase of approximately 365 pips from the low of 1.3150 recorded on March 31. The pair has moved clearly above the 1.3500 psychological level, which had acted as structural … Read more
The U.S. Dollar Index has fallen below its ascending trendline and dipped under the 50-day Simple Moving Average at $98.80, currently positioned at $98.20, with the 200-SMA at $99.50 acting as a significant resistance level above. The bearish candle structure, characterized by consecutive red candles with minimal lower wicks, indicates a persistent and conviction-driven selling … Read more
USD/JPY is positioned at 158.87, reflecting a decrease of about 0.5% during the session. This decline is part of a subtle trend that has been unfolding throughout the week, overshadowed by more prominent narratives of dollar weakness, such as the EUR/USD rally to 1.1800 and the GBP/USD’s seven-day ascent to 1.3570, which have garnered significant … Read more
The USD/CAD pair experienced a modest increase during Friday’s session, with the US dollar rebounding against the Canadian dollar from the significant 200-day EMA. This move highlights that global risk appetite continues to be the dominant driver for USD/CAD, rather than domestic Canadian factors. US 10-year Treasury yields remain elevated, currently around 4.32%, as market … Read more
GBP/USD commenced Monday with a bearish gap — the pair began the week significantly lower, ending a five-day winning streak that had propelled it to its highest point since late February around 1.3485. The initial analysis highlighted the unexpected developments from Sunday night, as U.S.-Iran peace negotiations in Islamabad fell apart after 21 hours. In … Read more
EUR/USD commenced the week at 1.1685, experiencing a decline of 0.2%-0.5% during the session. The price movement has contracted into a tight range, illustrating the dynamics of a currency pair influenced by two opposing forces, each exerting equal and persistent pressure. Last week, the pair reached five-week highs around 1.1725-1.1740, driven by optimism surrounding a … Read more
USD/JPY is trading within the range of 159.389-159.393, reflecting an increase of 0.06% or about 0.099 points for the session. The daily high reached 159.871, while the session low was recorded at 159.286. The pair commenced the week with a bullish gap, ascending to the 159.85 area during the Asian session. However, intervention concerns curtailed … Read more
AUD/USD has declined to 0.7060, yet it is poised for a 2.6% increase over the week. On Friday, risk appetite has diminished as optimism surrounding a peace agreement in Iran diminishes. Later on Friday, US CPI data is anticipated to indicate elevated inflationary pressures in March. The Australian Dollar experiences a reduction in its gains … Read more
GBP/USD is currently positioned at 1.3420 on Friday, maintaining a position just above the 1.3415 support level after navigating within a 1.3415-1.3430 range for the majority of the Asian session, which clearly indicates the market’s current level of conviction. The pair has rebounded roughly 300 pips from its early April low around 1.3150 — a … Read more