Intraday Trading

USDJPY grinds resistance The Japanese yen finds limited support from a rise in the December retail trade number. On the daily chart, last May’s low of 126.50 and the 20-day moving average (131.10) are compressing the price range and a…
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AUDUSD tests major supply area The Australian dollar stays high as traders remain hopeful of a dovish Fed pivot. A tentative break above last August’s high of 0.7130 further fueled the bulls’ enthusiasm and could lay the foundation for…
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USDCAD attempts to rebound The Canadian dollar slipped after the BoC signalled a pause in rate increases. On the daily chart, the pair is looking to hold above 1.3320 as a triangle consolidation pattern seems to be taking shape between…
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EURUSD continues higher The euro finds support from upbeat PMIs in the eurozone. On the daily chart, the close above last May’s high of 1.0770 continues to fuel the upward thrust. The price action has so far consolidated its gains…
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AUDUSD rallies back The US dollar continues downward as the market rules out a 50 basis point hike next month. The pair has recouped most of the losses from last week’s sell-off after bouncing off 0.6870 which coincides with the 20-day…
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USDJPY struggles to rebound The US dollar edges lower due to bearish inertia across the board. On the daily chart, the pair is still hovering above last May’s lows of 126.50 as the bulls strive to keep the outlook rosy in the…
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AUDUSD falls back The Australian dollar softened after an uptick in December’s unemployment rate. A cut through 0.6940 has invalidated this demand zone, elbowing the bulls to the side. This left a shooting star on the daily chart,…
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EURUSD keeps high ground The US dollar struggles on speculation that the Fed is nearing the end of its tightening. The pair is holding on to its gains after breaking above May’s high of 1.0780. A bearish RSI divergence suggests a…
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NZDUSD extends gains The US dollar struggles as a slowing CPI foreshadows a dovish Fed. On the daily chart, the upward bias has remained intact after the kiwi bounced off 0.6190. The price then consolidated its gains after…
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USDCHF claws back losses The Swiss franc plunged across the board after a pickup in risk sentiment. After a double top at 0.9400, a drop below 0.9260 had put the bulls in an awkward position. Last March’s lows around 0.9160 has…
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