AUDUSD has made a significant move by breaking decisively above a sideways pattern that it has been trading within for over two months. This breakout has propelled the price to its highest level since January 2024, marking a notable shift in the market sentiment. Resistance and Support Levels With the pair now marching towards fresh
Technical Analysis
In recent years, silver prices have been on an upward trend due to a supply and demand gap that seems to be widening. Demand for silver has consistently outpaced supply for the past five years, leading to a shortage in the market. This imbalance has been primarily driven by the surge in industrial demand, which
The New Zealand dollar, also known as the Kiwi, has taken a significant hit as it experienced a sharp decline against the US dollar, reaching a 4-week low. This downward trend can be attributed to a dovish shift in the latest monetary policy statement released by the Reserve Bank of New Zealand (RBNZ), leading to
Upon analyzing the XAU/USD chart, it is evident that the price of gold experienced a significant increase above the $2390 level on Friday, July 5th. However, this rise was short-lived as the price fell back to $2360 per ounce on Monday. This inconsistency in market behavior suggests a lack of sustained bullish momentum, signaling a
The AUD/USD pair has recently hit a six-month high, reaching 0.6752 and showing consistent gains over the past five days. The main driver behind this surge in the Australian dollar is the growing belief among investors that the Reserve Bank of Australia (RBA) may take a different approach than other central banks. Speculation is rife
The analysis provided on the USD/JPY pair in the original article seems to be detailed and thorough. It mentions that the pair climbed to a multi-year high at 161.95 before correcting lower. However, the downside correction is not viewed as a negative sign, but rather as a normal part of the market movement. The article
The AUD/USD pair has experienced a downside correction from the 0.6735 zone recently. Despite starting a fresh increase from the 0.6635 support level, the pair has faced resistance near 0.6720. The ongoing correction has led to a decline below the 0.6720 level, indicating a potential move towards the key support at 0.6700. If this support
The AUD/USD pair has recently seen an uptick to 0.6676, indicating a potential shift in market dynamics. However, despite this increase, the currency pair remains trapped in a sideways pattern, highlighting the lack of clear directional momentum at the moment. The Australian dollar’s rise can be attributed to the weakening stance of the US dollar,
GBPCAD recently experienced a bounce off the uptrend line, recovering above the 50-day simple moving average (SMA) following a 2% correction in June. This correction caused the price to dip below the SMA, but it managed to stay above the upper ascending trendline that has been in place since the autumn of 2023. While the
The UK 100 stock index (cash) has been experiencing a downturn for the past six trading days, with the price dropping significantly to reach a critical support level of 8,110. The failure to surpass the key resistance area of 8,300 and the important resistance line from February 2022 has raised concerns about a potential negative
The recent parliamentary elections in France, where Marine Le Pen’s far-right party, the National Rally (RN), won the first round, had a significant impact on the financial markets. Exit polls revealed that the victory of RN led to a rise in the euro’s exchange rate against other currencies. The EUR/USD rate surged to its highest
The EUR/USD pair has recently started a recovery wave above the 1.0710 resistance level, indicating a positive trend in the short term. The pair successfully cleared a major bearish trend line with resistance at 1.0725 on the 4-hour chart, which further supported the bullish momentum. However, despite the positive movement, the pair is currently facing