Daily Forex News

USD/CAD’s break of 1.0481 minor support suggests that choppy recovery from 1.0405 has completed. Also, it shift favors to the case that correction from 1.0851 is still in progress. Intraday bias is mildly on the downside for 1.0405 low for the moment. Break will target 100% projection of 1.0851 to…

Central bank announcements dominated the markets today. While RBNZ boosted up Kiwi by an optimistic tone in its statement, BoE and SNB delivered no surprise and thus kept both currencies in tight range against other majors. Dollar and yen are consolidating against European majors, following consolidations in commodities and equities….

The SNB, as widely anticipated, held the three-month Libor target at 0.25%. The decision to leave interest rate unchanged at the moment was mainly because of dismal inflation outlook. Moreover, the central bank announced that it will stop purchases of corporate bonds, a sign of withdrawal non-conventional monetary policies.

USD/CAD’s rise was limited at 1.0670 and drops sharply again. With 4 hours MACD crossed below signal line, intraday bias is turned neutral again. Short term outlook in USD/CAD remains rather mixed for the moment. On the downside, below 1.0481 support will indicate that recovery from 1.0405 has completed. In…

With 4 hours MACD crossed above signal line, an intraday low should be in place at 0.9013 and bias is turned neutral for the moment. While some more recovery could be seen, risk should remain on the downside as long as 0.9321 resistance holds and we’d continue to prefer the…

Intraday bias in EUR/USD remains neutral for the moment as sideway trading from 1.4668 continues. Some more consolidations could be seen but still, upside of recovery is expected to be limited by 1.4902 resistance and bring fall resumption. Below 1.4668 will target 1.4626 support next. Also, note that break of…

With 4 hours MACD crossed below signal line, intraday bias in USD/CHF remains neutral for the moment and some more sideway trading could be seen below 1.0298. Nevertheless, downside of the consolidations is expected to be contained by 1.0136 support and bring rally resumption. Above 1.0298 will target 1.0337 resistance…

No change in USD/JPY’s outlook. Intraday bias remains on the downside with 88.70 minor resistance intact and further fall is still in favor. As noted before, break of 61.8% retracement of 84.81 to 90.75 at 87.08 in USD/JPY will align the outlook with other yen crosses and pave the way…

Intraday bias in GBP/USD remains neutral for the moment as sideway trading from 1.6166 continues. While stronger recovery cannot be ruled out, upside is expected to be limited below 1.6515 resistance and bring fall resumption. As noted before, prior break of 1.6250 support confirms that whole rebound from 1.5706 has…

Dollar and yen remain steady in range against European majors as markets are preparing for SNB and BoE rate decisions later today, helped by another day of weakness in Nikkei. Nevertheless, Kiwi and Aussie shine across the board overnight and rebound strongly. Kiwi was lifted by optimistic statement from RBNZ…