Aussie rises further but bulls need to clear key obstacles to resume
The Australian dollar extends gains into third straight day and pressures 7 Aug high at 0.7243 (the highest since early Feb 2019) boosted by weaker dollar and barely affected by China’s anti-dumping probe into imports of Australian wine.…
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Lira continues to fall; 7.50 level is coming in focus
The pair continues to rise and hit new all-time high at 7.3951 on Monday.
Bulls extend into fourth straight week, registering 10.3% advance in the first half of August.
Lira came under increased pressure after correction from…
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Bulls need firm break above 1.31 to gain traction
Cable keeps slight bullish bias for probes into the upper side of two-week 1.2982/1.3185 range, but daily chart action remains in sideways mode.
Bulls have established above 1.30 level which now marks solid support as the floor of current…
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Euro maintains positive tone and looks for attack at range top
The Euro remains at the front foot on Monday and attempts to extend last week’s 0.45% advance, which resulted in eventual weekly close above 1.1822 (Fibo 61.8% of 1.2555/1.0635) after double failure in past two weeks.
Last week’s action…
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Strong corrective rebound comes after six straight days in red
The pair bounced strongly on Friday (up 1.5% for the day so far) after bears faced headwinds and were rejected at 104 zone.
Oversold studies and month-end profit-taking contributed to fresh rally (the pair is heading for the first…
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Dollar is set to extend weakness in August
Bears are pausing above new 26-month low on Friday, but dollar index remains in a free fall, as Fed’s pledge to continue to support the economy, hit by strong rise in new coronavirus infections, did little to reduce bears’ pace.
The dollar…
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Weekly close above 1.30 to confirm strong bullish stance and focus 2020 high
Cable is establishing above 1.31 handle on Friday and eyes targets at 1.3212/43 (2020 high / Fibo 61.8% of 1.4376/1.1409) after bulls easily broke strong barriers at 1.3000/17 (psychological / Fibo 76.4% of 1.3514/1.1409) on Thursday.…
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