Bearish bias remains intact below 0.8600

EUR/GBP pares recent losses while bouncing off key Fibonacci retracement level. 200-HMA, previous support challenge buyers, bears eye fresh weekly low. Downbeat RSI, sustained break of short-term triangle keep sellers hopeful. EUR/GBP picks up bids to 0.8590 while consolidating the biggest daily loss in a week during Friday’s Asian session. In doing so, the cross-currency … Read more

Drops to fresh monthly low, focus on 1.2260-50 support area

GBP/USD drops for the fourth consecutive day, takes offer to refresh monthly bottom. Sustained break of the key SMAs, bearish MACD signals favor bears ahead of the UK’s monthly data dump. Five-week-old horizontal support zone restricts immediate downside amid oversold RSI. GBP/USD bears keep reins for the fourth consecutive day while refreshing the one-month low … Read more

Tumbles towards 0.7155 support confluence

AUD/USD extends the previous day’s losses, renews intraday low of late. Convergence of the 100-EMA, 200-EMA challenge bears ahead of the key Fibonacci retracement levels. Weekly resistance line holds the key to fresh upside. AUD/USD remains on the back foot around the intraday low, on its way to the first weekly loss in four, as … Read more

Bulls need validation from 168.00 key hurdle

GBP/JPY renews seven-week high, struggles to extend upside momentum during the eighth positive day. Overbought RSI, horizontal area from late April challenge buyers. Bears have multiple hurdles before retaking controls, 161.30 appears the key support. GBP/JPY dribbles around the highest levels in seven weeks, grinds higher near 167.35-40 by the press time, as bulls struggle … Read more

Bulls approach 1.2600, recovery needs validation from 50-DMA

GBP/USD grinds higher after staging notable rebound from three-week low. Bullish MACD signals, break of two-month-old resistance favor buyers. May’s peak, 50-DMA test upside momentum, sellers await 20-DMA breakdown. GBP/USD holds onto the short-term key resistance break as bulls attack 1.2600 during Wednesday’s Asian session. In doing so, the cable pair also cheers the clear … Read more

Renews fortnight low near 0.6450, 20-DMA tests further downside

NZD/USD remains on the back foot for the third consecutive day as it refreshes multi-day low. RSI retreat, easing bullish bias of MACD favor sellers. 20-DMA, 23.6% Fibonacci retracement challenge further declines, bulls need to cross 0.6575 to retake controls. NZD/USD holds lower ground near a two-week low of 0.6439, down 0.67% intraday around 0.6448 … Read more

Bears stay on the way to mid-1.2500s

GBP/USD fades bounce off key EMAs, keeps the previous day’s downside break of 13-day-old support. Steady RSI, trend line breakdown keep sellers hopeful. Convergence of the 21-day EMA and 10-day EMA tests bears, bulls remain away unless crossing descending resistance line from late March. GBP/USD remains on the back foot around the intraday low as … Read more

Sellers need validation from 13-day-old support around 1.0700

EUR/USD extends previous day’s pullback from one-month high. Clear break of 50-day EMA, RSI retreat favor sellers. 38.2% Fibonacci retracement holds the key to further advances. EUR/USD remains pressured around the intraday low, stretching Tuesday’s pullback from the monthly peak during Wednesday’s Asian session. That said, the major currency pair seesaws around 1.0730-25 by the … Read more

WTI renews multi-day top above $116.00 as EU unveils sanctions on Russian oil

WTI stays on the front foot around the highest levels in 12 weeks, up for the fifth consecutive day. EU Leaders release fresh sanctions for Russian oil imports, EC President Von der Leyen said oil coming through pipelines exempted. Risk-on mood, softer US dollar adds to the bullish momentum. China PMI and full markets eyed … Read more