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NZD/USD: Likely to trade between 0.5890 and 0.6030 – UOB Group
NZD/USD: Likely to trade between 0.5890 and 0.6030 – UOB Group
Sharp drop appears overdone, but New Zealand Dollar (NZD) could decline to 0.5920 against US Dollar (USD) before stabilisation is likely.
Technical Analysis
Banks
NZDUSD
EUR/NOK rejected at key multiyear resistance – Société Générale
EUR/NOK rejected at key multiyear resistance – Société Générale
EUR/NOK is retreating after a failed breakout above 12.05, with focus shifting to support near the 50-DMA and downside targets at 11.60 and 11.45, Société Générale's FX analysts note.
Technical Analysis
EURNOK
Norway
Banks
GBP/USD stalls near key channel resistance – Société Générale
GBP/USD stalls near key channel resistance – Société Générale
The GBP/USD rally is showing signs of fatigue near major resistance at 1.3430–1.3500, with momentum fading and key support at 1.3230 now under close watch, Société Générale's FX analysts note.
Technical Analysis
Banks
GBPUSD
AUD/USD: Likely to trade in a lower range of 0.6400/0.6470 – UOB Group
AUD/USD: Likely to trade in a lower range of 0.6400/0.6470 – UOB Group
Rather than sustaining its downward momentum, Australian Dollar (AUD) is more likely to trade in a lower range of 0.6400/0.6470.
Technical Analysis
Banks
AUDUSD
USD: Dollar to take its cue from the US-UK trade deal – ING
USD: Dollar to take its cue from the US-UK trade deal – ING
Following a social media post from President Trump last night that a major trade deal would be announced at 16CET/10ET today, speculation is rife that it will be a US-UK agreement.
Technical Analysis
Banks
DollarIndex
GBP/USD remains below 1.3335 – UOB Group
GBP/USD remains below 1.3335 – UOB Group
Provided Pound Sterling (GBP) remains below 1.3335 against US Dollar (USD), it could edge lower to 1.3265. In the longer run, the current price movements are part of a 1.3240/1.3450 range-trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
Banks
GBPUSD
GBP: We're not as dovish as some on the BoE – ING
GBP: We're not as dovish as some on the BoE – ING
Today's Bank of England meeting should be a market mover, ING's FX analyst Chris Turner notes.
Technical Analysis
BOE
Banks
GBPUSD
EUR/USD is tilted to the downside – UOB Group
EUR/USD is tilted to the downside – UOB Group
Bias for Euro (EUR) is tilted to the downside vs US Dollar (USD); any decline is likely limited to a test of 1.1280. In the longer run, current price movements are likely part of a consolidation phase between 1.1225 and 1.1410, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
EURUSD
Banks
EUR: Are long positions getting stale? – ING
EUR: Are long positions getting stale? – ING
EUR/USD has drifted lower to test support at 1.1300 today, ING's FX analyst Chris Turner notes.
Technical Analysis
EURUSD
Banks
NZD/USD Price Forecast: Remains below nine-day EMA near 0.5950 psychological resistance
NZD/USD Price Forecast: Remains below nine-day EMA near 0.5950 psychological resistance
The NZD/USD pair extends losses for the second successive session, trading around 0.5930 during European hours on Thursday. The technical analysis of the daily chart indicates a weakening bullish bias, as the pair trades further below the ascending channel pattern.
Technical Analysis
Majors
NZDUSD
Gold Technical Analysis – Trump’s announcement weighs on the precious metal
Gold Technical Analysis – Trump’s announcement weighs on the precious metal
Trump’s announcement on a trade deal with the UK is weighing on gold as some positions get unwound on positive expectations. What’s next?
FX option expiries for 8 May 10am New York cut
FX option expiries for 8 May 10am New York cut
A look at what is on the board for today
Silver Price Forecast: XAG/USD remains close to bullish flag hurdle near $33.20 area
Silver Price Forecast: XAG/USD remains close to bullish flag hurdle near $33.20 area
Silver (XAG/USD) attracts fresh buying during the Asian session on Thursday and reverses a major part of the previous day's retracement slide from over a one-week high. The white metal climbs to the $33.00 neighborhood in the last hour and seems poised to appreciate further.
Technical Analysis
Silver
Commodities
XAGUSD
Bullish
NZD/USD retreats as Fed signals caution and Kiwi struggles on mixed jobs data
NZD/USD retreats as Fed signals caution and Kiwi struggles on mixed jobs data
The NZD/USD pair is pulling back from a six-month high near 0.6025 reached earlier on Wednesday, trading around 0.6000 as investors react to the Federal Reserve’s (Fed) cautious policy tone and mixed economic data from New Zealand.
Technical Analysis
Currencies
Majors
NZDUSD
GBP/JPY Price Analysis: Pound holds near 191.00 as bullish tone strengthens
GBP/JPY Price Analysis: Pound holds near 191.00 as bullish tone strengthens
The GBP/JPY pair edged higher on Wednesday, trading around the 191.00 zone as buyers maintained control.
Crosses
Technical Analysis
Currencies
GBPJPY
Bullish
USD/CHF Price Forecast: Holds above 0.8200 post-Fed meeting
USD/CHF Price Forecast: Holds above 0.8200 post-Fed meeting
USD/CHF consolidates on Wednesday, registering a daily close with gains of over 0.21%. The pair witnessed a drop from around 0.8847 to 0.8038, the yearly low in eleven days.
Technical Analysis
Currencies
Majors
USDCHF
EUR/JPY Price Analysis: Euro holds steady near 163.00 as bullish signals build
EUR/JPY Price Analysis: Euro holds steady near 163.00 as bullish signals build
The EUR/JPY pair edged higher on Wednesday, trading around the 163.00 zone, reflecting a steady upward bias as the market heads into the Asian session.
Crosses
Technical Analysis
Currencies
EURJPY
Bullish
USDJPY sellers tried, the buyers are now making a run.
USDJPY sellers tried, the buyers are now making a run.
The indecisiveness from the Fed is in the USDJPY too
NZDUSD technical update: Testing a key barometer cluster
NZDUSD technical update: Testing a key barometer cluster
The NZDUSD is testing a critical technical zone with major moving averages clustered closely. The outcome will determine near-term market bias for traders.
NZD
USD
GBP/USD slides as Fed holds rates, flags rising inflation and growth uncertainty
GBP/USD slides as Fed holds rates, flags rising inflation and growth uncertainty
GBP/USD extended its losses on Wednesday after the Federal Reserve (Fed) decided to keep interest rates unchanged as expected, with most eyes set on Fed Chair Jerome Powell's press conference. At the time of writing, the pair trades near 1.3331, down more than 0.20%.
Technical Analysis
Currencies
Fed
Majors
GBPUSD
Gold price slips as Fed holds rates, warns of heightened inflation
Gold price slips as Fed holds rates, warns of heightened inflation
Gold price remains on the back foot after the Federal Reserve (Fed) kept interest rates unchanged. XAU/USD trades at $3,394, down over 1%, as traders brace for Fed Chair Jerome Powell's press conference.
Technical Analysis
XAUUSD
Fed
Gold
InterestRate
Gold price drops over 2% after Fed hold, US-China tariff talks boost US Dollar
Gold price drops over 2% after Fed hold, US-China tariff talks boost US Dollar
Gold prices retreated by more than 2% on Wednesday, after the Federal Reserve (Fed) kept rates unchanged, and despite an improvement in risk appetite following the commencement of tariff talks between the United States (US) and China.
Technical Analysis
XAUUSD
SEO
Gold
Fundamental Analysis
AUDUSD retreats after false breakout above key resistance
AUDUSD retreats after false breakout above key resistance
AUDUSD reverses lower after breaching 0.6504 swing high, now testing 200-day MA at 0.6460. Break below may signal further downside towards 0.6428 levels.
AUD
USD
EUR/GBP Price Analysis: Euro holds steady near 0.8500 as mixed signals persist
EUR/GBP Price Analysis: Euro holds steady near 0.8500 as mixed signals persist
The EUR/GBP pair remained relatively flat on Wednesday, hovering near the 0.8500 zone after the European session. Price action was contained within a narrow range, reflecting a market lacking clear directional momentum.
Crosses
Technical Analysis
Currencies
EURGBP
GBP/USD pauses rally as traders eye Fed, BoE’s decisions
GBP/USD pauses rally as traders eye Fed, BoE’s decisions
The Pound Sterling (GBP) retreated after posting back-to-back days of gains versus the US Dollar (USD). Still, positive news related to a possible de-escalation of the China-US tensions lent a lifeline to the Greenback, which remains firm in early trading.
Technical Analysis
Fed
Majors
GBPUSD
Fundamental Analysis
USDCHF stalls near resistance – sellers remain in control below the 100/200 hour MAs
USDCHF stalls near resistance – sellers remain in control below the 100/200 hour MAs
The 100/200 hour MAs in the USDCHF are near converged near 0.8254
EUR/USD Price Forecast: Symmetrical triangle break in focus as Fed decision looms
EUR/USD Price Forecast: Symmetrical triangle break in focus as Fed decision looms
EUR/USD is nearing a technical inflection point, where macroeconomic divergence and chart compression converge. While strong data from Germany and France support the Euro (EUR), weak retail sales and Federal Reserve (Fed) uncertainty have dampened momentum.
Technical Analysis
EURUSD
Fed
SEO
There will not be a new low in the USDCAD today. At least the pattern suggests that result
There will not be a new low in the USDCAD today. At least the pattern suggests that result
The USDCAD has stepped lower but it skips a day after a new low.
CAD
USD
EUR is quietly consolidating in mid/upper 1.13s – Scotiabank
EUR is quietly consolidating in mid/upper 1.13s – Scotiabank
The Euro (EUR) is quietly consolidating within a tight range in the mid/upper1.13s, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Technical Analysis
EURUSD
Banks
CAD steady just below Tuesday’s multimonth high – Scotiabank
CAD steady just below Tuesday’s multimonth high – Scotiabank
The Canadian Dollar (CAD) is soft, trading marginally lower from Tuesday’s multi-month recovery high, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Technical Analysis
Canada
BOC
USDCAD
Banks
USD steady as markets cheer planned US/China trade talks this weekend – Scotiabank
USD steady as markets cheer planned US/China trade talks this weekend – Scotiabank
The US Dollar (USD) is steady, attempting stabilization against most of the G10 currencies and clawing back some of its recent weakness against JPY, SEK, AUD, and NZD as we head into Wednesday’s NA session.
Banks
DollarIndex
Technical Analysis
USD/CNH is likely to trade in a 7.1900/7.2300 range – UOB Group
USD/CNH is likely to trade in a 7.1900/7.2300 range – UOB Group
Outlook is mixed; US Dollar (USD) is likely to trade in a 7.1900/7.2300 range against Chinese Yuan (CNH). In the longer run, USD could range-trade for a few days before resuming its decline; the level to watch is at 7.1700, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
USDCNH
Banks
USD/JPY fails at key resistance – Société Générale
USD/JPY fails at key resistance – Société Générale
USD/JPY struggles to sustain upward momentum, with a failure at key resistance and risks building for a deeper pullback toward 140 and below, Société Générale's FX analysts note.
Technical Analysis
USDJPY
Banks
USD/JPY: Likely to consolidate in a 142.20/144.00 range – UOB Group
USD/JPY: Likely to consolidate in a 142.20/144.00 range – UOB Group
US Dollar (USD) is likely to consolidate in a 142.20/144.00 range. In the longer run, USD has likely entered a consolidation phase and is likely to trade between 142.20 and 146.70 for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
USDJPY
Banks
NZD/USD: Chance of breaking above 0.6030 – UOB Group
NZD/USD: Chance of breaking above 0.6030 – UOB Group
New Zealand Dollar (NZD) could break above 0.6030 vs US Dollar (USD) but might not be able to maintain a foothold above this level; 0.6060 is probably out of reach.
NZDUSD
Technical Analysis
Banks
Merz elected after rocky start, Euro shrugs off drama – Commerzbank
Merz elected after rocky start, Euro shrugs off drama – Commerzbank
While some politically savvy people may have fallen off their chairs yesterday after the first round of voting for the new German Chancellor, the fx market seemed less than impressed, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.
Technical Analysis
EURUSD
Europe
Eurozone
Banks