GBP/USD was rejected at the 1.6250 minor psychological resistance yesterday, as pound bulls need to gather more energy before pushing this pair higher.
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The U.S. dollar experienced heavy selling pressure in yesterday’s trading, as the U.S. economy is currently facing a possible government shutdown.
USD/JPY has been trading inside a rising channel for quite some time but the range broke earlier this week. This suggests that a downtrend might be in the works, possibly after a quick retest of the broken support.
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The US dollar lost ground on Friday, mostly because of the weak economic data and the prospect of a government shutdown. Lawmakers only have a few hours left to come up with a plan to avoid default, and it appears that Republicans and Democrats still can’t see eye to eye.
USD/CHF just broke below the key .9100 handle on Friday’s dollar weakness, but the pair might be due for a quick pullback before heading any lower.
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The US dollar lost some ground to most of its major counterparts yesterday, as bleak economic data convinced traders that a taper is not likely for this year.
USD/JPY has been climbing slowly inside a rising channel on its 4-hour time frame, and is currently testing the bottom.
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The US dollar let go of its recent gains to the dollar, yen, and euro as data from the US economy wasn’t as strong as expected.
NZD/USD has retreated from its recent rallies, as bulls are unable to take the pair significantly past the .8400 major psychological resistance.
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The US dollar’s rally gained traction yesterday, even though there weren’t exactly a lot of major reports on tap. In fact, US reports actually came in below consensus yesterday, as the Richmond manufacturing index slipped from 14 to 0 instead of improving to 17.