EUR/JPY remains well under pressure around 129.00. Next on the downside emerges the 2022 low at 127.90. EUR/JPY extends the weekly bearishness and revisits the 128.70 region, where some initial contention has emerged so far. Further losses in EUR/JPY remains well in the pipeline in light of the recent price action and following the risk
FX
EUR/USD fades bounce off 20-month low, battles short-term key support area. Bearish MACD, risk-off mood keep sellers hopeful to visit 61.8% FE. Bulls need to cross two-week-old descending trend line to justify short-term strength. EUR/USD retreats from 1.1220 during the initial Asian session on Friday, around 1.1190 by the press time. The quote dropped to
GBP/USD plunged to a fresh monthly low amid a global rush to safe-haven assets, including the USD. Russia’s invasion of Ukraine spooked investors and triggered a massive sell-off in the equity markets. Technical selling below the 1.3500 mark also seems to have contributed to the steep intraday decline. The GBP/USD pair added to its heavy
EUR/USD remains offered for a second consecutive day, renews intraday low of late. Bear cross joins downbeat RSI to direct sellers towards three-week-old support line. Corrective pullback needs validation from a fortnight-long trend line resistance. EUR/USD takes offers to refresh intraday low around 1.1297, down 0.08% on a day during the second consecutive daily fall.
USD/CHF lacked any firm directional bias and remained confined in a range on Wednesday. The risk-on impulse in the markets undermined the safe-haven CHF and extended support. The emergence of fresh USD selling acted as a headwind and capped the upside for the pair. The USD/CHF pair seesawed between tepid gains/minor losses through the first
AUD/USD grinds higher around two-week top during three-day uptrend. Bullish RSI divergence keep buyers hopeful, 100-DMA adds to the upside filters. AUD/USD remains on the front foot around a fortnight high near 0.7230, recently easing from the intraday top during Wednesday’s Asian session. The Aussie pair’s latest upside momentum could be linked to the bullish
USD/JPY staged a goodish rebound from the near three-week low touched earlier this Tuesday. A turnaround in the risk sentiment undermined the safe-haven JPY and remained supportive. Bulls further took cues from rebounding US bond yields, though weaker USD might cap gains. The USD/JPY pair climbed to a fresh daily high during the mid-European session,
Gold extended its rally for two consecutive days and gained 0.60% in the week. Heightened tensions in the Ukraine/Russian conflict increased the appetite for the safe-haven metal. XAU/USD Technical Outlook: Upward biased, helped by market sentiment. If the conflict escalates, the $2,000 mark is on the cards. Tensions in the Ukraine/Russia region alongside Russia’s President
In opinion of Quek Ser Leang at UOB Group’s Global Economics & Markets Research, USD/IDR should remain side-lined within the 14,270-14,380 range for the time being. Key Quotes “The sharp drop in USD/IDR to 14,240 and the subsequent swift rebound came as a surprise (we were expecting USD/IDR to trade sideways).” “The rapid swings have
USD/CAD grinds higher after Friday’s bounce off monthly support line. Bull cross, firmer RSI also keep buyers hopeful, 1.2700 is a tough nut to crack for bears. Descending trend line from early January holds the key to further upside. USD/CAD remains on the front foot around 1.2750 during Monday’s initial Asian session, after posting the
AUD/USD failed to hold above 0.7200 for a third successive session, as geopolitical angst underpinned US dollar demand. Geopolitics will be the highlight for the pair next week, though Aussie Q4 wage data will also be key. AUD/USD failed to hold to the north of the 0.7200 level for a third successive session, despite solid
Gold aims for a 2.06% gain on the week, courtesy of geopolitical jitters amid Fed speaking ignored by market players. The conflict in Eastern Europe gives signs of no de-escalation as Russian President Putin decided to oversee nuclear drills in the weekend. XAU/USD Technical Outlook: Despite finishing the week on the wrong foot, still upward
GBP/USD tried but failed to break above its 1.3500-1.3650ish range that has prevailed for most of February. The pair fell back under 1.3600 in the US session as geopolitical angst remains elevated. That kept USD in demand and negated pushback against a 50bps March rate hike from Fed’s Williams. GBP/USD tried but eventually failed to
The GBP/JPY is down in the week, 0.02% amongst a risk aversion environment. Russia/Ukraine news headlines dominate the trading session, safe-haven peers advance. GBP/JPY Weekly Outlook: From a weekly chart, it faces a wall of resistance around 158.00. GBP/JPY Daily Outlook: Neutral-upwards above 155.30, otherwise neutral. The GBP/JPY eyes to end the week flat in
AUD/USD regained some positive traction on Friday and climbed to the fresh weekly high. Easing Russia-Ukraine tensions lifted risk sentiment and undermined the safe-haven greenback. RBA rate hike bets further inspired the aussie bulls and remained supportive of the move up. The AUD/USD pair retreated a few pips from the weekly high touched earlier this
Gold holds near the fresh cycle highs of $1,900, driven higher by the Russian and Ukraine crisis. US dollar pinned to the floor as markets reassess Fed’s tightening path. The price of gold rallied on Thursday and was coming to a close near the highs of the day of $1,901 at $1,898, ending up over 1.54%. The uncertainty surrounding the
EUR/CZK has staged a rebound after forming a trough near 24.09 earlier this month. But if the pair fails to pierce the 24.75 level, another leg lower towards the 2011 low of 23.93 could be witnessed, economists at Société Générale report. Near-term resistance aligns at 24.75 “Daily Ichimoku cloud at 24.75 is near-term resistance.” “Failure
GBP/USD bulls reaching up to the daily resistance. Bulls will be monitoring for a slow down in the hourly bearish correction. GBP/USD rallied to a fresh hourly high son Wednesday following a sell-off in the greenback on the back of a less hawkish outcome at the Federal Reserve’s meeting in January. The minutes of the meeting