UOB Group’s FX strategists see USD / CNH shift focus to the near term 6.4920 level. Key quotes 24 hour view: “Our expectation for the USD to ‘move to 6.4800 first before easing’ did not materialize, trading between 6.4426 and 6.4680 before the close , little change. The current move is considered part of a..
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USD / CNH now target 6.4920 – UOB
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Potential rebound to 6.4500? – UOB
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UOB Group’s FX strategists noted USD / CNH could rebound from recent lows and re-test the 6.4500 area in the coming weeks. Key quotes 24 hour view: “We pointed out yesterday that the USD” may drop below 6.4000 but the prospect of an extension to 6.3900 is not high “. However, the USD rebounded strongly..
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Indian rupee regains key technical indicators below 73.00
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USD / INR consolidates recent gains, reverses against five week old resistance line 200 bar SMA. MACD also makes it easier to justify the pullback, the monthly high adds to the upside barriers. USD / INR reverses early Asian gains while declining recently to 72.84, down -0.10% intraday, in India’s initial trade on Wednesday. In..
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50-HMA, Weekly Support Line Test Sellers
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AUD / JPY cuts losses from the previous day’s multi-month high. MACD abandons bearish bias, key HMA, support lines stand up to challenge sellers. The bulls have been waiting for a new high since December 2018 to regain control. AUD / JPY defies the previous day’s pullbacks from a 26-month high while maintaining bounces of..
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USD / TRY Extends Fall Again Below 7.0000 to 6-Month Low
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USD / TRY remains on the defensive around 6.9000 on Tuesday. The pair tumbles further and records new lows for the past 6 months. The CBRT interest rate decision comes on Thursday. Turkish Lira rally remains fine and solid for another session and lags USD / TRY to new multi-month lows in the sub-6.9000 area..
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Further gains could test the 130.00 hurdle
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EUR / JPY records new 2021 highs beyond 128.00 on Tuesday. Higher emerges psychological resistance at 130.00. EUR / JPY extends the rally and registers new YTD highs near 128.30 during the rally on Tuesday. If buying momentum picks up, then the next notable resistance should emerge in the 129.30 area (November 29 / December..
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NZD / USD maintains positive outlook – UOB
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In the opinion of the FX strategists of the UOB group, the outlook NZD / USD for the moment remains on the constructive side, with the next target at 0.7280. Key quotes 24 Hour Vision: “We expected the NZD to strengthen yesterday, but were of the opinion that” any advance is probably limited to a..
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USD / TRY drops to 6-month low near 6.9500
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The USD / TRY falls into the sub-7.0000 region on Monday. The weak dollar and risk appetite are supporting the lira. The CBRT will decide on interest rates on Thursday. The Turkish currency appreciates more and lags USD / TRY to new multi-month lows in the sub-7.0000 area on Monday. USD / TRY now turns..
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Additional gains face next barrier at 129.30
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EUR / JPY pushes higher and hits YTD highs near 128.00. The next big hurdle comes in region 129.30. EUR / JPY extends the rally and records new 2021 highs to levels just below 128.00 Monday’s figure. If buying momentum accelerates, then the next notable resistance should emerge in the 129.30 area (November 29 /..
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Crashes near multi-month low, looks vulnerable to further decline
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EUR / GBP stalled its attempt to recover near the upper end of a downtrend channel. The subsequent drop to new multi-month lows set the stage for another near-term drop. Sustained movement beyond trend channel resistance is needed to reverse the bearish outlook. The EUR / GBP cross extended Friday’s rejection slide from the upper..
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