|Day's range||1.926 - 1.93|
|52-week range||1.7292 - 1.9306|
The Dollar Index retreated from a three-week high with prices trading around 97.10 as of writing. Although the Index remains bullish on the daily charts, bears can still make a return if prices dip back below the 97.00 psychological support level.
What would be seen as a major threat to the Sterling resuming its painful descent would be if the BoE issues a downbeat policy statement, suggesting a downward revision in growth and inflation forecasts which obstruct the need to raise rates.
AUDUSD’s sustained trading below 50-day SMA portray the pair’s weakness that can drag it to 0.7015 and the 0.7000 round-figure once 0.7070 immediate support breaks. However, a downward slanting trend-line, at 0.6950 now, could confine the pair’s downside past 0.7000, if not then sellers can again aim for early-month low around 0.6730. Alternatively, the 50-day SMA level of 0.7180, followed by 0.7235, can keep restricting the pair ‘s near-term advances. Given the pair manage to surpass the 0.7235, the 0.7280 and the 0. ...
While three-week long descending trend-line continue restricting AUDUSD’s near-term upside, the pair has to close beneath 0.7020 in order to please sellers with fresh lows. In doing so, the quote can drop to 0.7000 round-figure and then to the 0.6930-25 support-zone ahead of aiming 61.8% FE level of 0.6900. Alternatively, the 0.7085 is likely immediate resistances for the pair prior to confronting the 0.7115 TL barrier, breaking which 0.7160 and 50-day SMA level of 0.7190 may come back on the chart. Moreover, pair’s sustained trading beyond 0.7190 could flash 0.7235-40 and the 0. ...
Unless breaking the 1.2715-20 resistance-confluence, GBPUSD’s recent pullback can continue nurturing doubts about its strength to target the 1.2850 level. Given the pair’s ability to rise above 146.00, the 146.50, the 146.80 and the 147.30 can please the buyers.