Thanks to BOE Governor Carney’s hints that the UK central bank is looking to hike interest rates earlier than markets expect, GBP/AUD has made a strong convincing bounce off the range support visible on its 4-hour forex chart.
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The US dollar struggled to extend its rallies in the latest trading sessions, as data from the US economy simply came in line with expectations.
AUD/USD is finding resistance at the top of its range, visible on the 4-hour forex time frame. At the same time, stochastic is moving down, which means that there’s enough selling pressure to push price down.
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The US dollar dominated in recent forex trading sessions, particularly against the euro and the pound.
USDCAD is still trading inside the rising channel on its 1-hour time frame and may be ready to resume the climb if it finds support at the bottom of the channel near the 1.0850 minor psychological level.
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The US dollar regained strength against the euro and Swiss franc in yesterday’s trading sessions but it lost ground to the yen and Aussie then consolidated to the pound.
GBP/JPY has been moving inside a range for more than a couple of months already and it looks like the pair is gearing up for a test of resistance at the 173.00 major psychological handle. A strong selloff from this area could lead to a test of support at the 170.00 mark.
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The US non-farm payrolls figure came in close to expectations as it posted a 217,000 gain in hiring versus the estimated 214,000 increase.
USD/CHF has been trading inside a rising channel for nearly a month before the ECB rate decision last week triggered a sharp break lower. Since then price has made a decent correction close to the bottom of the channel.
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The US dollar had a mixed performance as it had a volatile day against the euro but managed to make some corrections in its movement against the rest of the major currencies.