|Day's range||1.73 - 1.733|
|52-week range||1.7010 - 1.73257|
The Australian dollar has rallied in the last 2 weeks from a low of US75c to around US76.60c against the greenback, defying analysts’ predictions that the currency would tumble if the US Federal Reserve stuck to their plan to hike rates further next year and if new tax legislation in the US was passed. Also, A new tax legislation that was introduced by US President Donald Trump which envisions cutting the corporate tax rate to 20 percent among other things is sure to be signed into law this week by the US president after his own Republican party passed the tax bill through both the Senate and the house of representatives.
Considering AUDUSD’s pullback from 0.7695–0.7700 horizontal-region, followed by its U-turn from 0.7635, the pair seems less likely to offer much trading opportunities unless clearing either the 0.7635 support or the 0.7700 resistance-mark. However, comparative strength of the USD indicates more downside of the pair, which in-turn indicates brighter chances of its drop to 0.7600 and then to the 0.7580 after conquering the 0.7635 rest-point. During the pair’s additional declines beneath 0.7580, the 0.7530 and the 0.7500 round-figure might please sellers. Alternatively, an upside break of 0. ...
Although better than expected UK Earnings triggered the GBPUSD’s bounce, the pair still remains below a short-term ascending trend-line, at 1.3370, that it broke yesterday. Given the prices continue declining after the 1.3245 SMA figure’s break, the 1.3170-60 region, comprising six-month old upward slanting TL, could challenge the Bears. GBPJPY is another GBP pair which took a U-turn after British employment details but still trades beneath recent TL break and hence continue remaining weaker.
GBPUSD’s gradual declines from 1.3550 seems dragging the pair beneath a short-term ascending trend-line, which if sustained could further fetch it to 1.3330 and then to the 1.3280-75 horizontal-line. Should the quote continue declining below 1.3275, the 1.3220 and the 1.3180 rest-points may please sellers. However, pair’s inability to extend latest downtick may trigger its upside to the 1.3405 and the 1.3450, breaking which 1.3480 and the 1.3510 can re-appear on the chart. During the pair’s additional advances beyond 1.3510, the 1.3550 and the 1. ...
GBP/USD GBPUSD’s recent break of ascending trend-channel resistance signals the pair’s readiness to again confront the 1.3335-40 horizontal-line with 1.3270 & 1.3300 acting as intermediate halts. Should the pair manage to surpass the 1.3340, it can quickly rise to 1.3380 & 1.3410 ahead of aiming the 1.3450 & 1.3470 resistances. If overbought RSI nullify the … Continue reading Technical Outlook Of GBP/USD, GBP/AUD & GBP/CAD: 17.11.2017
The Pound has been whipsawing short-term traders. After gaining before going into the weekend, the Pound has suffered a downturn this morning on the developing news surrounding Prime Minister Theresa May and a potential revolt among the Tories she leads. Pound Traders Getting Whipsawed The Pound has seen a whirlwind of whipsaw trading over the … Continue reading Potential Revolt Against U.K Prime Minister
GBP/USD While speculations concerning BoE’s once in a decade rate-hike presently propels the GBPUSD, the pair might find it hard to clear the 1.3335-40 horizontal-line that confines follow-on north-run towards 1.3410 and then to the 1.3455 resistances. Should the quote successfully trade beyond 1.3455, the 1.3500, the 1.3565 and the 1.3600 can become buyers’ favorite. … Continue reading Important GBP Pairs’ Technical Overview: 01.11.2017
The Pound is doing well so far, but the third week of October may change a lot for the British currency. We’re talking not only about the statistical reports, a lot of which are going to be published this week. It’s also about the problems that are in slumber right now but may wake up … Continue reading The Pound’s Fate Depends on Politicians
The likelihood of a rise in UK interest rates, for the first time in a decade, gained momentum on Tuesday as UK CPI edged up from 2.9% to 3.0% – its highest level since April 2012. Bank of England Governor Mark Carney did nothing to dispel a rate hike as he gave evidence to the UK Treasury … Continue reading UK Inflation at 5-Year High, Pound Falls on Carney’s Comments
The British Pound is recovering, but right now it’s hard to tell how fast the correction will be. There are still a lot of speculations around Theresa May, the British Prime Minister and the key player in the Brexit procedure, but not as many as earlier. The reason why the Pound plummeted last week was … Continue reading The Pound Relies on Theresa May
It is quite possible that the Australian Dollar may resume falling in the nearest future. This might be true for both short and long-term, on the basis of the fundamental background. At the same time, the mid-term period, from a week to a month, looks very vague. During the RBA meeting at the beginning of … Continue reading The Australian Dollar is Ready to Fight off Sellers’ Attacks