Yesterday’s surge in risk appetite drew Aussie bulls back and triggered a sharp correction for AUDUSD.
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The US dollar had a mixed performance in recent trading, as traders are hesitating to take huge positions ahead of the top-tier releases this week.
EURNZD is forming a rising channel on its 1-hour time frame but seems prime for a countertrend play, as price is testing the range resistance.
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The US dollar returned some of its recent gains last Friday when the US advanced GDP reading came in below expectations.
EURJPY has been trading sideways on its 1-hour time frame, creating a range between support at 132.50 and resistance at 134.00.
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The US dollar was able to advance against most of its forex counterparts when risk aversion extended its stay in the currency market.
USDJPY has been trading inside a descending triangle pattern on its 4-hour time frame, with price hovering around the resistance.
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The US dollar regained ground against its forex rivals when the FOMC sounded a little more upbeat than usual.
EURNZD’s selloff might soon be over, as price formed an inverse head and shoulders pattern on its 4-hour forex chart.
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The US dollar gave up ground to its major counterparts in recent trading, as traders booked profits off their trades ahead of the FOMC statement today.