EURUSD pares weekly losses within a fortnight-long falling wedge bullish chart formation ahead of Fed Minutes.
The chances of seeing more upward movement in AUDUSD seem uncertain due to the 21-EMA and 50-EMA coming together near the 0.6700 level, which poses a challenge for bullish traders.
The USDJPY currency pair has experienced a notable reversal from its eight-month high, which has significance for the sellers.
EURUSD holds onto the previous week’s U-turn from a five-month-old horizontal resistance.
Gold price is likely to remain bearish but the south run is less likely to be smooth.
AUDUSD remains on the back foot at the three-week low after posting the biggest weekly loss since August 2022 on Australia inflation day.
USDCAD remains depressed at the year-to-date levels ahead of Canada inflation and US Durable Goods Orders.
Despite posting the first weekly loss in four, the GBPUSD pair stays beyond the key supports.
Gold Price breaks a month-old bearish channel towards the south and suggests further downside past the latest three-month low surrounding $1,920.
GBPUSD dropped in the last three consecutive days and is on the way to posting the first weekly loss in four, despite the latest rebound.
EURUSD pares the biggest weekly gain since early January ever since it reversed from the monthly high on Friday.
AUDUSD prods three-week uptrend after RBA Minutes and PBOC rate cut impresses bearish ahead of Fed Chair Powell’s Testimony.
