A lurking rising wedge could open the door towards 132.00

The USD/JPY extends its weekly gains to 0.74% on Tuesday. Falling US Treasury yields capped any U¨SD/JPY’s attempts towards the YTD highs near 136.70s. A rising wedge in the USD/JPY daily chart looms; if it plays out, it will send the pair tumbling towards 132.00. The USD/JPY extends its string of days, advancing to three … Read more

NZD/USD slips to fresh two week lows below 0.6250 on soft US economic data

The New Zealand dollar tumbles courtesy of a negative market mood and a bid US dollar. US June’s CB Consumer Confidence dipped to a 10-year low on US citizens’ concerns about high inflation and slower growth. The US Dollar Index is back above the 104,000 thresholds, courtesy of quarter and month-end flows. The NZD/USD ticks … Read more

Double top in play but sellers failure at 0.9520, could spark a test of 0.9600

USD/CHF bounces off near-daily lows and stays above the 50% Fibonacci retracement in the H1 chart. Disappointing US economic data sparks a counter-cyclical move with the US dollar rising instead of falling. The USD/CHF daily chart formed a double top that is in play, but USD/CHF sellers’ failures to breach 0.9520, might open the door … Read more

GBP/USD stays firm around 1.2270s ahead of US Consumer confidence

The lack of a fresh catalyst kept the pound within familiar ranges. A mixed market mood, spurred by higher global bond yields, put a lid on GBP/USD gains. GBP/USD Price Forecast: Remains tilted to the downside, but a test towards 1.2300 is on the cards. The British pound remains to trade in a narrow range … Read more

AUD/USD settles around 0.6940s on a weak US dollar

The AUD/USD reports minimal gains of 0.03% on Monday. Higher global bond yields shifted Wall Street sentiment mixed, a headwind for the AUD. AUD/USD Price Forecast: Range-bound but skewed to the downside. The AUD/USD seesaws from daily highs around 0.6958 printed during the Asian session towards daily lows near 0.6910, in a narrow trading range … Read more

Dollar stabilizes after last week’s decline, eyes on key US data

Here is what you need to know on Monday, June 27: The US Dollar Index stays relatively quiet near 104.00 early Monday after having closed the previous week modestly lower. US stock index futures trade flat on the day as focus shifts to May Durable Goods Orders data. Pending Home Sales and the Dallas Fed … Read more