AUDUSD bulls stay hopeful as the Reserve Bank of Australia (RBA) ends QE, despite posting initial losses due to rejection of the immediate rate hike concerns.
Silver prints corrective pullback around three-week low, bouncing off 78.6% Fibonacci retracement (Fibo.) of December 15 to January 20 upside.
A corrective pullback on Friday failed to lift GBPUSD beyond 50-DMA, not to forget a fortnight-old descending trend line.
A clear upside break of 20-DMA enables USDJPY bulls to challenge the two-month-old horizontal resistance area, surrounding 115.50-60.
EURUSD bears cheer a clear downside break of a two-month-old ascending trend line, as well as sustained trading below 50-DMA, to brace for 2021 bottom surrounding 1.1185.
While a year-long resistance line has been testing gold buyers for one week, a six-week-old rising wedge bearish chart pattern teases sellers as markets brace for the Fed’s verdict.
USDJPY extends pullback from a four-year high, recently failed to keep the bounce off 113.50, amid downbeat MACD and RSI.
GBPUSD keeps pullback from 200-DMA and 78.6% Fibonacci retracement (Fibo.) of September-December 2021.
Gold buyers cheer a clear break of the 23.6% Fibonacci retracement (Fibo.) of August-November 2021
EURUSD remains on the back foot so far during the current week, heading into the key ECB Monetary Policy Meeting Accounts.
Although USDCAD buyers keep lurking around an upward sloping trend line from June, failures to stay decisively above the 200-DMA keep sellers hopeful of breaking the 1.2450 support.
Having reversed from the late October tops, GBPUSD pokes the key support lines around the mid-1.3600s.