Technical Analysis

Technical Outlook - AUDCHF, NZDCHF and AUDNZD
April 10, 2015 - 14:39
Although the Australian Dollar (AUD) and the New-Zealand Dollar (NZD) have remained weak against the broadly strengthening US Dollar, they have gained considerable momentum against other major currencies. Against CHF the duo is yet to recover the losses witnessed on the SNB surprise decision to scrap EURCHF cap of 1.20.  Given the backdrop, here is a technical update on AUDCHF, NZDCHF and AUDNZD. AUDCHF The pair now seems to have found strong support near 0.7290-70 area, nearing 23.6% Fib. retracement level of the pair's sharp...
Technical Overview - Important JPY Pairs
April 09, 2015 - 15:27
On Wednesday, JPY strengthened against USD and EUR after BoJ decided to leave its monetary policy unchanged. The Japanese Yen, however, weakened against the broadly strengthening AUD and NZD counterparts on the back of inaction by RBA. ALSO READ: RBA Maintains Status-Quo; BoJ and BoE to Follow Suit Given the backdrop, here is a technical update on important JPY Pairs - USDJPY, EURJPY, AUDJPY and NZDJPY. USDJPY Although the pair managed to clear a short-term descending trend-line resistance near 120.00 mark, it failed to capitalize on the...
CAD Pairs: Technical Outlook
April 09, 2015 - 15:23
Ever since the Iran and global leaders agreed to lift the sanctions on the coast of nuclear deal, prices of Crude Oil, Canada’s main export, kept declining with hopes of increased global supply in near-future. Moreover, rising crude oil inventories, as signaled by the US EIA, coupled with the weaker Ivey PMI data from Canada, provided additional weakness to the Canadian Dollar (CAD). Canadian Building Permits and the monthly labor market details, scheduled for release on later Thursday and Friday respectively, as some of the...
EUR Pairs Technical Update
April 08, 2015 - 15:16
On Tuesday, the Euro-zone common currency, Euro, that had rallied sharply on Friday last week on the back of weaker NFP data amid thin trading volumes, dropped against most of its major counterparts. Further, with a relatively tepid economic calendar this week, the Forex market is likely to react to few second-tier US economic releases and the minutes of the Fed's latest monetary policy meeting in March. ALSO READ: Tepid Economic Calendar Could Magnify USD Losses Meanwhile, here is a technical update on important EUR cross currency...
Technical Outlook: Important GBP Pairs
April 08, 2015 - 15:09
Even if the UK Services PMI, published on Tuesday, rallied to September 2014 highs, the GBP maintained its decline against majority of counterparts, except USD, as opinion polls for UK General Election, scheduled for May 07, failed to signal clear winner, continue spreading political uncertainty. Moreover, record low inflation reading, published during late March, signals extended loose monetary policy by the Bank of England (BoE) and is likely hurting the UK currency. Also Read: RBA Maintains Status-Quo; BoJ and BoE to Follow Suit Given...
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