USD
The US dollar had a mixed performance in yesterday’s trading, as it consolidated to the euro, lost ground to the pound, then strengthened against the comdolls.
CAD/JPY might be in for more losses, as the pair just broke below the support of the rising channel on its 4-hour time frame. Stochastic is already in the oversold zone but hasn’t crossed upwards, indicating that sellers have enough momentum to push the pair even lower.
USD
The US dollar barely budged against most of its major counterparts in recent trading, save for the Australian dollar and Canadian dollar.
EUR/USD’s recent selloff might soon be over, as the pair formed a double bottom on its 1-hour time frame. This is a classic reversal pattern and the uptrend could be confirmed once the pair breaks above the neckline of the formation.
USD
The US dollar lost ground to its major counterparts when prices retraced and risk sentiment improved.
NZD/USD is forming a rising channel on its 1-hour time frame, after having bounced off the bottom near the .8200 major psychological support. The pair has moved past the middle of the channel after the New Zealand CPI release and is on its way to test the top around the .8400 mark.
USD
The US dollar lost a bit of ground on Friday, thanks to weaker than expected consumer sentiment data.
USD/JPY has confirmed the potential downtrend, after it made a retest of the broken trend line support last week. This could mean that further losses are in the cards for the pair.
USD
The US dollar retreated from its strong rallies in yesterday’s trading, thanks to the lack of major data from the US economy.
AUD/JPY is on its way towards the bottom of the falling channel on the 4-hour time frame. A bounce might be in the cards since stochastic is indicating deeply oversold conditions.