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Forex: GBP/USD clinging to 1.5300

FXstreet.com (Barcelona) - The sterling is pushing higher on Thursday, threatening to surpass session highs around 1.5310 so far, as risk appetite is back to the markets after yesterday’s sell-off.

E.Theoret, Analyst at Scotiabank, argued that the outlook remains bullish “but fading as there are early signs of a turn. A close below the 50‐day MA at 1.5228 would be bearish and have us favouring short positions”.

At the moment, the cross is up 0.39% at 1.5298 with the next resistance at 1.5370 (high Apr.17) followed by 1.5386 (high Apr.15) and then 1.5409 (high Apr.12).
On the downside, a breach of 1.5217 (low Apr.17) would then target 1.5199 (low Apr.5) and finally 1.5034 (low Apr.4).

Euro torn between bears and bulls

The market has been shaken by strong risk aversion this week which propelled USD and JPY rallies as safe-havens currencies. The euro was particularly weighed by Bundesbank's Weidmann discussing quite openly the option of an ECB rate cut, which could be a signal that the German economy might worsen.
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Forex: AUD/USD back to opening levels

The Australian dollar lost momentum during the American session and after peaking at 1.0336, the AUD/USD slid back below 1.0300 and into negative ground for the day. However, the Aussie found support at the 1.0280 area and rose back to around 1.0300, where it is trading at time of writing, virtually unchanged since opening.
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