Earlier this week, comments of country’s central bank had pushed AUD/USD up from the 2019 lows. Then it met resistance.
Daily Market Analysis
EUR/GBP formed an interim bottom in the 0.8930 area and closed above the 50-day MA at 0.8490 on Monday.
Last week EUR/NZD made a triumphant comeback to the upside. The pair rose above the 50- and 100-week MAs in the 1.7000/7025.
S&P 500 met resistance at the 61.8% Fibo of the January 24-27 decline. The index is quite volatile these days offering traders opportunities to make profit.
The meeting of the Federal Reserve at 21:00 Mt time will be the highlight of the day. There is a very high possibility that the event will make an impact on USD/JPY.
CHF/JPY has been declining since the middle of January. It went down, as the yen was the number one safe haven after the outbreak of the coronavirus in China.
AUD/USD broke through the most important daily moving averages, slipped below the support at 0.6830.
On the H1, USD/JPY is recovering after the selloff that took place during the previous three days.
USD/CAD made big moves during the Bank of Canada’s meeting yesterday. Still, the rally may not be over yet.
The price action in EUR/USD has been quite unfavorable for the euro. On The W1, the 50-week MA limited the pair’s advance.
AUD/JPY formed a “shooting star” candlestickon the W1. This week, it’s testing levels below the 50-week MA at 75.45.
On the W1, Brent oil formed a bullish “hammer”…