Brent oil holds onto a weekly uptrend despite the previous day’s pullback moves.
While a short-term falling triangle is appealing on the face of EURUSD's H4 chart, pair's multiple bounces off 1.0990, coupled with the recent lower low formation, keep sellers on the alert.
Despite witnessing upbeat activity numbers from Australia's largest customer, i.e. China, AUDUSD fails to stay strong beyond 61.8% Fibonacci retracement (Fibo.) of October month upside.
Despite the latest trade protectionist measures from the US, coupled with political pessimism surrounding Hong Kong Act, Gold prices stay below near-term key resistance confluence comprising 100-bar EMA and a month-old falling trend line.
With the overbought conditions of 14-day RSI portraying the NZDUSD pair's pullback from 200-day EMA, prices are likely to revisit 50% Fibonacci retracement level of 0.6500.
Despite staying beyond 200-bar SMA, EURUSD repeatedly fails to hold onto gains above 61.8% Fibonacci retracement of October-November declines.
Repeated failures to cross 61.8% Fibonacci retracement falls short of portraying the AUDUSD pair's weakness as a bullish pennant formation on H4 keeps buyers hopeful.
The USDJPY pair's repeated bounces off 100-day EMA have recently been tamed by the 200-day EMA, which in turn confines the pair's trading range between 108.40 and 108.80 respectively.
While polls concerning the UK election results and New Zealand's government spending entertained global markets during early Wednesday, traders are now waiting for the key FOMC for fresh impulse.
Although a sustained break of 200-week SMA, followed by run-up beyond multi-year-old trendline, favors the GBPUSD pair's further upside, it all depends upon today's UK election results.
GBPUSD stays well above Friday's gap-up beyond five-month-old resistance turned support ahead of the preliminary readings of British PMIs.
Not only dovish bias of the RBA minutes but doubts over the success of the US-China trade deal, mostly known as phase-one, triggered the AUDUSD pair's latest pullback.