GBP/USD already broke below the rising trend line on the 4-hour time frame earlier this week, but it appears that the pair has found support around the 1.5200 major psychological level for now.
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The U.S. dollar retreated against most of its major counterparts in yesterday’s New York session, as weak economic figures put a cap on its recent rallies.
USD/JPY seems to have stalled right below the 103.00 major psychological resistance level as the pair retreated upon reaching a high of 102.78.
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The U.S. dollar continued to advance against its major currency counterparts in yesterday’s trading session as the upbeat monetary policy expectations from the Fed provide support for the Greenback.
Following a successful break of the double top neckline on the daily time frame, EUR/USD appears poised to test the neckline of the larger head and shoulders formation, which can be seen on both the weekly and daily charts.
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Dollar strength is still in vogue today as the latest U.S. retail sales release somewhat came in line with consensus
NZD/USD suffered a sharp selloff last week when RBNZ head Graeme Wheeler admitted intervening in the forex market.
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The US dollar got a strong boost from the Fed’s announcement of their concrete plans to exit their open-ended asset purchase program.
GBP/USD had a strong selloff towards the end of the previous week when the U.S.
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The U.S. dollar gained a lot of ground against its major counterparts in yesterday’s trading, despite the lack of top-tier data from most major economies.