GBP/USD breaks above 200-bar SMA to attack 1.2400 mark.
61.8% Fibonacci retracement adds to the resistance beyond the channel’s upper line.
Multiple lows marked on May 22 could offer rests after the channel’s downside break.
GBP/USD gains 0.45% on a day while taking the bids near 1.2400 amid Monday
Daily Pivots: (S1) 0.6626; (P) 0.6654; (R1) 0.6697;
AUD/USD’s rally from 0.5506 continues today and hits as high as 0.6742 so far. Intraday bias bias remains on the upside but we’d continue to look for topping signal. Bearish divergence condition in 4 hour MACD is a sign of loss of upside momentum.
Here is what you need to know on Monday, May 11:
The week has kicked off where it ended, with cautious optimism in stocks, a marginally weaker dollar and only oil prices are on the back foot. Bad news seems to be priced in.
Coronavirus: Total confirmed cases have surpassed four million cases, with f
USD/JPY dropping in thin trade without a known catalyst.
Yen is picking up a bid amid an underbelly of risk.
USD/JPY is moving lower and testing 106.20 lows and the lowest levels since March of earlier this year. The move started overnight in the European session since topping in the 106.80s. At th
Market movers today
On paper today's highlight will be the Fed meeting . After an abundance of policy measures announced since March, we expect today's meeting to be relatively quiet with no major policy announcements even if we cannot rule out another 'technical adjustment' of the interest on exces
Commodity currencies have seen moderate losses against the dollar and other main currencies against a backdrop of sputtering low-volume stock market trading and a turn lower in oil prices. The Kiwi dollar led the way lower for the commodity group after a research note from Westpac hit a bearish chor