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USD Daily Review December 6, 2018

USD Daily Review for December 6, 2018

AUD/USD Carves Bearish Series, RSI Threatens Upward Trend

Recent price action in AUD/USD raises the risk for a further depreciation as the exchange rate carves a series of lower highs & lows.


Gold Weekly Price Outlook: XAU/USD Challenges Critical Resistance

Gold prices are testing a key resistance barrier at the October highs. Here are the levels that matter on the XAU/USD weekly chart heading into


EUR/USD looks to finish the day flat near 1.1340

Since the start of the week, the EUR/USD pair is having a difficult time making a decisive move in either direction and looks to close the day virtual


USD/MXN retreats after hitting weekly highs, consolidates around 20.50

The Mexican peso managed to erase losses against the US dollar late on Wednesday, remains under pressure. The USD/MXN rose to 20.61, hitting the highe


EUR/USD: Forecast at 1.23 by end-of-2019 – NBF

According to National Bank of Canada analyst, at some point investors will come to expect the end of Fed tightening and/or the start of policy normali


NZD/USD back below 50% Fibo, carving out fresh lows in thin trade headed in to early Asia

NZD/USD was at the mercy, once again, of external flows. The greenback has been a star performer on its own right, despite the collapse in US yields w


USD/CAD headed to highest daily close of the year above 1.33

After spending the majority of the day moving sideways in a tight range below the 1.33 handle, the USD/CAD pair gained traction during the NA session


USD/CAD: To drop closer to 1.27 next year – NBF

National Bank of Canada analysts raised slightly near-term USD/CAD forecasts to reflect current risk aversion. They expect an appreciation of the Cana


EUR/USD Technical Analysis: Downside risk below 1.1360 level as bears are taking the lead

EUR/USD daily chart EUR/USD is trading in a bear trend below the 200-day simple moving average (SMA). EUR/USD is currently trapped between the 1.1


AUD/USD Technical Analysis: Aussie getting ready for the drop to 0.7200 figure

AUD/USD daily chart AUD/USD is trading in a bear trend below the 200-day simple moving average (SMA) as the market is dropping below the 0.7400 and


EUR/USD remains sideways between 1.1310 and 1.1360

The EUR/USD pair dropped to 1.1309, just below the lows of the previous two days and quickly rebounded, erasing losses. The pair continues to move sid


Canadian dollar tumbles to 6-month low after Bank of Canada sees oil price drop hurting energy sector

The Canadian dollar USDCAD, +0.7614% tumbled to its lowest level since early June against its U.S. rival on Wednesday, as the Bank of Canada acknowled


Bullish USD/CAD on Deteriorating CA Fundamentals and Dovish BoC

Hopes for a January/ March 2019 rate hike by the BoC have dropped aggressively, which as taken yield spreads wider and USD/CAD higher with it


US Dollar Index Technical Analysis: DXY setting the stage for a bullish advance to the 97.54 level

DXY daily chart The US Dollar Index (DXY) is trading in a bull trend above its main simple moving averages near the 97.00 figure. DXY closed insid


EUR/USD Technical Analysis: Are Sellers Ready to Retake the Lead?

Euro technical positioning hints the single currency is trying to resume its dominant downward trend against the US Dollar. Will this attempt find follow-through?


Risk Aversion Lingers, Asia Stocks and Australian Dollar at Risk

Risk aversion engulfed financial markets as Wall Street was closed despite US China trade talk progress. CAD sunk on less hawkish BoC. Asia stocks may


GBP/USD floundering near 1.2700 as the Brexit clock continues to tick down

GBP/USD continues to trade sideways, reaching daily peaks in the 1.2800 neighborhood before sinking back down into the 1.2700 region, though swing low


USD/CNH bid on risk aversion, peeps above 100-day MA

The offshore Chinese yuan (CNH) is taking a beating amid risk aversion in the equity markets. The USD/CNH pair is currently trading at 6.8867; up 0.4


EUR/USD: Focus on yield differentials

The EUR/USD pair is trading in a sideways manner around 1.1340 for the fourth day straight despite the EUR-positive developments in the bond markets.


AUD/USD pegging into fresh lows on its way to 0.7200 on waning risk appetite

AUD/USD is marking in new lows for the week below 0.7230 as risk appetite drains away in the Pacific-Asia market session, fueled by an unexpected decl


USD/JPY Technical Analysis: Bears eyeing Tuesday’s low of 112.58 after rising wedge breakdown

The USD/JPY looks set to test the support at 112.58 (Tuesday’s low), having suffered a rising wedge breakdown earlier today. A deeper drop below that


NZD/USD heading lower in early Thursday action, ticking into 0.6880

NZD/USD is trading into 0.6880 as risk appetite continues to take a header as risk appetite retreats further in Thursday’s early Asian market session,


EUR/USD weaker, drops to lows near 1.1320

The sentiment around the single currency appears deteriorated early in the European morning and is now dragging EUR/USD to fresh daily lows in the 1.1


GBP/USD to remain offered – Commerzbank

Karen Jones, Analyst at Commerzbank, suggests that the GBP/USD is sitting near the bottom of its 4 month trading range and will find initial resistanc


Fitch: Indian Rupee to weaken to 75 vs. USD by end-2019

According to the latest report released by Fitch Ratings on Thursday, the US-based rating agency expects the Indian National Rupee (INR) to weaken to


GBP/USD Technical Analysis: Strangling near 1.2700

GBP/USD, 5-Minute The past two weeks have seen the Cable moving in a sluggish downtrend, marked by consolidation periods separated by rough chop


US Dollar Price Action Needs NFP Confirmation, Huawei Hammers Risk

The US dollar basket (DXY) pushes back above trendline support despite lower nominal US yields and short-dated UST yield inversions. US-China tensions ramp up after


GBPUSD: Sterling Support Remains Fragile as Brexit Chaos Continues

UK PM May is facing rebellion from inside her party and heavy criticism from outside and talk is now circulating that the Brexit vote in


USD/JPY: Near term dips to be limited to 111.75 – Westpac

Robert Rennie, analyst at Westpac, suggests that they have stuck with a neutral bias for USD/JPY for some time with the strong caveat that we would sw


AUD/USD steadies near 0.7200

After losing nearly 100 pips on Wednesday, the AUD/USD pair extended its slide today and touched its lowest level in 9 days as the AUD weakened amid d


USD/JPY stays in red below 113 ahead of US data dump

After staying under pressure during the Asian session, the USD/JPY pair recovered above the 113 but failed to preserve its momentum and dropped back i


NZD/USD: Supported by the NZ data – Westpac

Imre Speizer, research analyst at Westpac, suggests that the NZD/USD continues to benefit from a string of positive NZ data surprises lately, as well


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