Daily Forex News

USD/CAD’s fall resumes after brief recovery and drops further to as low as 1.1981 in early US session. At this point, intraday bias remains on the downside as long as 1.2090 minor resistance holds. Current decline from 1.2713 is still expected to continue towards 100% projection of 1.3063 to 1.2191…

The forex markets are still searching for a clear direction as consolidation continues in most pairs. Yen crosses dipped early today on risk aversion but was then boosted up by better than expected earnings announcement from JPMorgan Chase. However, the effect was then offset by poor housing data from US….

Thursday in Asia, the New Zealand dollar plunged to its lowest level in almost 5-weeks against the Aussie after a report showed that activity in New Zealand’s manufacturing sector shrank for the eleventh straight month in March as a deepening global recession curbed demand for exports. The kiwi also slumped to an 8-day low against the greenback and the euro.

Thursday in Asia, the Chinese yuan showed strength against its US and European counterparts following various economic reports released from China.

Friday morning in Asia, the Japanese yen rose to an 8-day high against the Swiss franc. The yen also climbed to a 2-day high against the euro, while showed modest strength against the pound. Against the dollar, the yen recovered from a 2-day low during this time.

Friday morning in Asia, the Japanese yen rose to an 8-day high against the Swiss franc. The yen also climbed to a 2-day high against the euro, while showed modest strength against the pound. Against the dollar, the yen recovered from a 2-day low during this time.

Intraday bias in EUR/GBP remains on the downside as long as 0.8915 minor resistance holds. Current fall from 0.9494, which is treated as resumption of correction from 0.9799, is expected to target 0.8635 first, with prospect of extending further to 100% projection of 0.9799 to 0.8635 from 0.9494 at 0.8330….

No change in EUR/CHF’s outlook as the cross is still bounded in range of 1.5061 and 1.5298. Intraday outlook remains neutral for the moment. On the downside, below 1.5061 will bring deeper pull back, probably to 61.8% retracement of 1.4577 to 1.5446 at 1.4909. But in such case, downside is…

USD/CAD recovers mildly after falling to as low as 1.2003 and at this point, intraday bias remains on the downside as long as 1.2184 minor resistance holds. Current fall from 1.2713 is still expected to extend further towards 100% projection of 1.3063 to 1.2191 from 1.2713 at 1.1841 but strong…

AUD/USD continues to struggle around mentioned 0.7267 cluster resistance level and intraday outlook remains neutral for the moment. As mentioned before the target zone of 0.7267/7475 is already met and focus remains on reversal signal. Break of 0.7145 support, which will have near term channel firmly taken out, will serve…