USD/MXN is quite used to sideways trading. Is it time to buy or sell?
Daily Market Analysis
Bitcoin has confirmed a top, closed below the 50-day MA at 10,921 yesterday and fell through all the key MAs on H4.
EUR/NZD met resistance in the 1.7570 area, at the line connecting the 2019 highs.
USD/CHF fell to the lowest levels in almost a year. The pair slid below the June low at 0.9695.
EUR/USD is consolidating in a sideways horizontal range with a slight bearish bias. A breakout is getting near.
Last week BTC/USD failed to close at the weekly high in the 12,295 area and ended up near 11,416.
Last week EUR/AUD tested the highest levels since 2009 at 1.6780, but failed to hold there and closed at 1.65 forming a candlestick with a long upper shadow on W1.
XAU/USD remains in an uptrend. This week it rose above the key psychological level of 1,500.
GBP/AUD is having a bumpy ride. The pair has been trading in a downtrend since May.
USD/CAD spiked towards the resistance in the 1.3350 area but failed to close above 1.3305.
On Tuesday, EUR/USD formed a candlestick with a small body and long upper and lower wicks - this is a sign of the market’s uncertainty.
CHF/JPY has recently broken below the support line from May lows.