After crossing the downside of 104-figure late in the domestic session, the Australian dollar made a slow burn higher overnight, peaking at the 104.5 US cent mark in recent hours.
Chris Gore | Feb 01 | GoMarkets
Consolidation: The EUR/USD has been in the habit of rallying, then consolidating sideways. It did so in a larger degree around mid-January for a couple of weeks. Then last week, we had almost a full week of range-bound action before bullish continuation. Yesterday (1/30), the EUR/USD was again trading sideways showing resistance around 1.3585/90, while setting up support at 1.
Fan Yang | Jan 31 | FX Times
Having sold off below its broken tremdline, the risk is for USDCHF to recapture the 0.9082 level. Further down, support comes in at the 0.9041 level followed by the 0.9000 level. Price hesitation may occur here due to its psychological importance. If broken, further declines will occur towards the 0.8900 level. Its daily RSI is bearish and pointing lower supporting this view.
Mohammed Isah | Jan 31 | FX Tech Strategy
The Euro continued its run of milestone highs overnight forging 32-month highs against the Yen and 14-month highs against the greenback. We saw a similar pattern across the board with commodity units the Aussie and Kiwi succumbing to the seemingly unstoppable Euro.
Chris Gore | Jan 31 | GoMarkets
The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDOLLAR) pared the advance to 10,174 as the advanced 4Q GDP report showed the growth rate contracting 0.1% versus forecast for a 1.1% rise, but we're seeing a fairly muted reaction to the development as market participants turn their attention to the Federal Open Market Committee (FOMC) interest rate decision scheduled for 19:15 GMT.
David Song | Jan 30 | DailyFX
Having resumed its broader upside and remaining on the offensive, further strength is likely towards the 1.3600 level. A cut through here will call for a run at the 1.3650 level and possibly the 1.3700 level. Further out, resistance resides at the 1.3775 and then the 1.3800 level. Its daily RSI is bullish and pointing higher supporting this view.
Mohammed Isah | Jan 30 | FX Tech Strategy
The greenback tracked lower on Tuesday, with the Dow Jones-FXCM U.S. Dollar Index (Ticker: USDOLLAR) tagging a low of 10,163, and the reserve currency may continue to consolidate over the next 24-hours of trading as the U.S. economy is expected to expand at a slower pace during the last three-months of 2012.
David Song | Jan 29 | DailyFX
Flag: The last time I updated EUR/JPY, it was in a flag pattern, edging lower in a correction against a very bullish trend. As we get into the 1/29 US session, we can once again observe a flag pattern in the 1H chart, with price action bouncing off the pattern support with focus on the resistance.
Fan Yang | Jan 29 | FX Times
AUDUSD: With a doji candle triggered recovery now underway, further upside is likely as AUDUSD has tested and held above its rising trendline. As long as AUDUSD continues to trade and hold above its trendline support presently at 1.0395 level, its broader bias remains higher medium term. The key upside objective stands at the 1.0500 level followed by the 1.0598 level and next the 1.
Mohammed Isah | Jan 29 | FX Tech Strategy
One of the progressive themes in recent sessions has been that of Aussie dollar weakness. The last four trading days has seen the local unit slip from highs just shy of 106-figure and remains under moderate pressure around the 104 US cent levels.
Chris Gore | Jan 29 | GoMarkets
The Euro pared the advance from the previous week as a report by the European Central Bank showed household lending contracted for the eighth consecutive month in December, and the single currency remains poised to face additional headwinds over the remainder of the month as the debt crisis continues to dampen the outlook for the region.
David Song | Jan 28 | DailyFX
Flag consolidation: The EUR/USD is developing somewhat of a flag pattern as it consolidates just under the 2012-high of 1.3485. This "flag" is a little premature as it lacks establishment of support, but the resistance has been established in a very short-term trendline.
Fan Yang | Jan 28 | FX Times