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Pair is staying below the 0.6000 level The NZDUSD fell sharply in the Asian session after the RBNZ nearly doubled the QA stimulus. The low price fell to 0.5999 (call it 0.6000) and found support buyers against the natural support level.

Also near the swing low from May 4 at 2797.85 with less than an hour to go in the trading day, the S&P index continues to trade above and below its 200 hour moving average at 2808.19. The current prices trading at 2811.31. The low for the day reached 2799.13.That low stalled just ahead of the May 4 low [&

Stay below the 1.2250 level keeps the sellers in control. The GBPUSD moved higher into the NY session, but found sellers ahead of its falling 100 hour MA (blue line currently at 1.2241 and near a downwward sloping trend line on the hourly chart.

Topside trend line at 0.97241 currently The USDCHF has moved back above its 100 hour moving average early at 0.97116.  The price action since Friday seen the price trade above and below that moving average. So the question is "Can you trust the break?".  

100 hour MA busted at 1.08345 The EURUSD has completed the up and down lap and is now extending to new lows.  The earlier low for the day, bounced off the 100 hour MA.  The high extended to the 50% retracement and the swing area in the 1.0886-96 area. The run back lower has now […]

USD/CAD range trade around 1.40 continues USD/CAD tried to break 1.40 on US dollar weakness earlier today but the risk-off tone in broader markets has sent the pair back close to flat on the day at 1.4065.

What's happening in gold Gold is at the highs of the day, up $11 to $1713 as the US dollar weakens across the board. The 0.6% rise boosts gold to the highest since Friday but in the big picture, the consoldation around $1700 continues.

The USD is mostly lower The AUD is the strongest and the NZD is the weakest as NA traders enter for the day.  That has the AUDNZD as the strongest currency pair. The catalyst? The RBNZ nearly doubled the QE and kept the door open for negative rates.   The decision sent the NZDUSD lower and […]

EUR/USD price action rests in between the key hourly moving averages See here for global coronavirus case data Buyers went in search of an upside break in overnight trading but fell short amid minor resistance around 1.0885 with the 200-bar moving average on the 4-hourly chart also helping to limit gains in the euro yesterday.

USD/JPY slips to a low of 106.98 on the day See here for global coronavirus case data The overall risk mood remains more tepid on the session, with European equities still keeping softer down by around 1.5% to 2.0% currently. Meanwhile, US futures are also staying near flat levels and looking skittish in European morning […]