Technical Outlook

Extended pullback pressures the top of thick daily cloud

The Australian dollar dipped below 0.7800 handle on Wednesday after weaker than expected China bank loans data, with increased pressure coming from falling Asian equities. Fresh weakness signals an extension of pullback from 0.7890 (May 10 high), where larger bulls stalled. Bullish daily studies (rising positive momentum / MA’s in bullish setup)…
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Bulls hold above 1.41, on course for 1.42+ extension

Cable is maintaining positive tone and consolidating under new 2 ½ month high (1.4158) following Monday’s 0.80% advance, sparked by talks about Scottish independence referendum story and weaker dollar after disappointing US jobs data. Expectations of the next phase of England’s lockdown easing which starts next week, further improves pound’s…
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Fresh demand concerns deflate oil prices

WTI oil fell over $1 in early US trading on Monday, offsetting positive signal from today’s gap-higher opening, caused by a cyberattack that forced the shutdown of major fuel pipelines in the United States. Fresh demand concerns over rising coronavirus cases in Asia, weakened the sentiment and pushed oil prices lower, sidelining hopes for stronger…
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Sterling surged vs Euro on Scottish referendum news

The cross was sharply lower on Monday, losing 0.85% since Asian opening until early hours of American session. Sterling accelerated further, after being initially lifted by weaker dollar on downbeat US jobs data, with the latest signals that probability of Scottish independence referendum before 2025, decreased further, additionally boosting…
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