FX

NZD/USD fails to keep Monday’s recovery moves beyond 0.6635. Key SMAs, short-term falling trend line question buyers amid normal RSI conditions. Bears eye the previous day’s low during further weakness. NZD/USD wavers around 0.6630 during Tuesday’s Asian trading. The kiwi pair snapped a three-day losing streak on Monday before portraying the pullback from 0.6636 in

The Reserve Bank of Australia (RBA) is set to announce its Interest Rate Decision on Tuesday, November 3 at 03:30 GMT and as we get closer to the release time, here are the forecasts by the economists and researchers of six major banks regarding the upcoming central bank’s decision. The RBA is likely to lower

EUR/USD refreshes five-week low after breaking 100-day SMA. Bearish MACD favor sellers, mid-October low offers additional immediate resistance. Key Fibonacci retracement levels can lure bears below September bottom. EUR/USD drops to 1.1638, the fresh low since September 28, during the early Monday. In doing so, the major currency pair respects Friday’s closing below 100-day SMA

GBP/USD bounces up from 1.2880 and consolidates around 1.2950. The pound weakened against a stronger dollar amid COVID-19 fears. BoE, Brexit and US elections will be the main drivers next week. The pound sterling has returned above 1.2900 on Friday after bouncing from 10-day lows at 1.2880, to consolidate around 1.2950. The pair has settled

UK Prime Minister Boris Johnson has announced a second broad lockdown from Thursday, November 5, and until December 2. The PM has said, “The virus is doubling faster, that we can conceivably add capacity.”  Leaving home is restricted to limited, essential activities.  Johnson has also announced that the furlough scheme will extend for another month.

XAU/USD lost more than 1% last week and closed near $1,880. Bearish pressure could gather strength is gold drops below $1,860. 100-day SMA at $1,890 aligns as first resistance. The XAU/USD pair suffered heavy losses on Wednesday and Thursday but staged a rebound on Friday. Despite the fact that the pair gained 0.6% on the

The euro finds support at 1.1640 after a five-fay sell-off. COVID-19 lockdowns and the ECB have sent the euro tumbling. The US elections will be a key EUR/USD driver next week. The euro extended its downtrend for the fifth consecutive day and is on track for a 1.75% weekly decline to close the week near 1.1640

AUD/USD in the hands of the bears while below the critical structure.  Bears remain committed and a test of the daily support structure could be on the cards. 0.7005 remains the line in the sand according to the daily chart and the following prior analysis: AUD/USD Price Analysis: Bounded by support and resistance, watch for a breakout The chart

EUR/USD is awaiting the election outcome as a large fiscal stimulus would weaken the dollar. The European Central Bank (ECB) is likely to ease policy in December but despite its concerns, real yields support the euro, per ANZ Bank. Key quotes “Our forecasts lean towards a post-election stimulus agreement and a Biden presidency. Biden would

The first glimpse into China’s economic plans for the next five and 15 years will be unveiled Thursday when initial details are released on how the country will steer growth and develop industry in the face of an antagonistic external environment, Bloomberg has reported.  The news follows the CCP’s 5th Plenum with a focus on

European Commission President Ursula von der Leyen noted on Wednesday that the supply of potential COVID-10 vaccine to Europe could begin “in earnest in April,” as reported by Reuters. Von der Leyen further noted that companies could deliver up to 50 million vaccines to the European Union, in the best-case scenario. Earlier in the day,

GBP/USD is denying the bulls a clean break to the upside. Bulls remain in play while above the critical support.  In an update to yesterdays analysis, GBP/USD Price Analysis: Bulls could emerge again on test of 1.3080, the price action of cable has been bearish within a bullish setup, although the support structure holds and

DXY fades Monday’s uptick and recedes below the 93.00 level. The 93.30 zone offers interim resistance in the near-term. DXY resumes the downside following Monday’s positive price action and comes under renewed selling pressure after a failed sustainable move beyond 93.00. In the meantime, it seems occasional bullish attempts remain capped by the 93.30 region,

EUR/AUD has made a strong retracement to the downside in longer-term demand territory. The weekly chart offers a bullish outlook as does the daily time-frame.  Bulls are seeking an entrance as the price pulls-back in a significant Fibonacci retracement.  There is still a way to go yet, but there could be an opportunity in the

AUD/USD is staying directionless for the second straight day. US Dollar Index is posting modest gains near 93.00. Focus shifts to mid-tier data from the US and RBA commentary. The AUD/USD pair edged lower toward 0.7100 during the Asian trading hours but pared its losses to trade flat near 0.7130 ahead of the American session. USD

WTI drops to below $39 and steadies as the coronavirus wave fears sweep through. Demand recovery still on a weak footing ahead of key events coming up. West Texas Intermediate has fallen in the open, down some 1.6% at the time of writing having dropped from a high of $39.72 to a low of $38.91.

AUD/USD bounces up at 0.7100 and returns to 0.7130 area. The aussie is set for a weekly gain despite the dovish RBA. US elections and RBA to push the AUD below 0.7000 – Westpac Australian dollar’s bearish reaction from one-week highs at 0.7155 area has been supported above 0.7100 and the pair managed to pick

NZD/USD bounces up from 0.6650 and returns to 0.6680 area. Kiwi appreciates more than 1% this week with the USD on the defensive. NZD/USD remains supported by global sentiment – Westpac. New Zealand dollar’s bearish reversal from one-month highs above 0.6700 seen on the early US session found support at 0.6650 area and the pair picked up