EURNZD has been trading in a downtrend and is currently testing the descending trend line on its 4-hour forex chart.
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Not even the lack of top-tier data or the lower liquidity during the Martin Luther King holiday was enough to stop the Greenback from moving around the charts, as traders started positioning ahead of the major events this week.
Last week’s SNB decision to remove the franc peg resulted to a massive rally for the Swiss currency and a 2000-pip selloff for EURCHF.
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The US dollar was in for a bit of consolidation towards the end of the week, as CPI reports came in weaker than expected.
AUDJPY has been trading in a downtrend, as a descending trend line can be drawn to connect the pair’s recent highs.
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The US dollar had a volatile New York trading session as central bank announcements rocked the markets.
NZDUSD is testing the top of the range on its 4-hour forex chart, indicating that selling pressure might return sooner or later.
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The US dollar had a mixed performance as it advanced to the yen but gave up ground to the pound.
NZDJPY recently broke below the bottom of the descending triangle pattern on its 4-hour time frame and is showing signs of a pullback.
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The US dollar stayed supported by risk aversion throughout the trading day as geopolitical tension and falling commodity prices kept risk-taking in check.