Intraday Trading

USDCHF keeps high ground The US dollar rallied after Powell reaffirmed that the Fed would raise rates as high as needed. A rally above the daily resistance at 0.9640 has flushed out short-term sellers. This could be the start of a…
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USDJPY seeks support The Japanese yen finds support as August’s CPI hits an eight-year high. The trajectory remains up from the daily chart’s perspective and the latest pullback could be an opportunity to accumulate. A rally back above…
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NZDUSD struggles to bounce The New Zealand dollar treads water as Q2 retail sales numbers disappoint. The pair is grinding the demand zone (0.6150) from a bullish breakout in mid-July. A bullish RSI divergence shows a deceleration in…
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EURUSD sees limited bounce The US dollar retreated after PMI data showed a slowdown in business activity. However, the euro’s fall below parity and July’s low indicates that sellers are in control. As last month’s rally turned out to…
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USDCHF pops resistance The US dollar rallies as Fed officials reiterate an aggressive tightening stance. A bearish RSI divergence as the pair grinded the supply zone at August’s high (0.9650) turned out to be a false alert for lack of…
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USDCAD breaks resistance The Canadian dollar softened as June’s retail sales decelerated. The pair previously came under pressure at 1.2980. A close above this supply zone equally a daily resistance would flush the remaining selling…
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EURUSD breaks demand zone The US dollar surged over fewer jobless claims last week. A fall below 1.0200 has weighed on sentiment, invalidating the latest bounce. The former support has turned into a resistance. The euro’s failure to…
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NZDUSD breaks support The New Zealand dollar weakened despite a 50bp hike by the RBNZ as risk sentiment fades. The pair hit resistance at 0.6460 and has given up most of its recent gains. A drop below 0.6300 at the base of last week’s…
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AUDUSD seeks support The Australian dollar falls as China’s industrial and retail data disappoint. The pair turned south in the supply zone (0.7130) at the start of a sell-off back in June. A combination of profit-taking and new…
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