GBPUSD braces for further upside until staying beyond the 100-SMA and a three-week-old horizontal resistance, now support 1.2400.
Gold prices hold lower grounds below the 200-DMA so far during the week, backed by downbeat MACD and RSI (14).
USDCAD sellers hopeful ahead of Canada’s Consumer Price Index (CPI) data on Wednesday.
EURUSD portrays a bearish consolidation inside a seven-week-old descending trend channel ahead of the key Eurozone GDP for Q1 2022.
AUDUSD managed to rebound from a two-year low on Friday, snapping a six-day downtrend and portraying a falling wedge bullish chart pattern.
USDJPY remains pressured around a two-week low, despite the latest rebound from 127.50, after the yen pair slipped beneath an upward sloping support line from March-end.
GBPUSD remains guarded, despite all the difficulties, ahead of the preliminary readings of UK Q1 2022 GDP. In doing so, the cable pair portrays a falling wedge bullish chart pattern at the lowest levels since June 2020.
Gold’s failure to rebound from $1,850 joins bearish MACD signals to keep sellers hopeful as markets await the key US inflation numbers.
Although the weekly channel restricts EURUSD moves while other major currency pairs portray heavy selling against the USD, the bearish flag formation joins downbeat MACD and RSI signals to keep sellers hopeful.
Although a fortnight old rising channel portrays the bull’s command over Brent oil, backed by the fears of a supply crunch, the commodity prices have failed to portray a notable run-up.
Despite reversing the post-Fed rally, gold prices remain beyond a three-day-old ascending support line, around $1,870 by the press time, ahead of the US Nonfarm Payrolls (NFP) release on Friday.
GBPUSD stays near the two-year low, despite the post-Fed rebound, as cable traders brace for the Bank of England’s (BOE) 0.25% rate hike.