AUDCAD could be in for a breakout soon, as price is approaching the peak of its symmetrical triangle pattern on the 4-hour time frame.
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The US dollar continued its advance against most of its major counterparts, as risk aversion stayed in the market at the start of the week.
EURCAD seems to be bouncing off its recent lows and may be due for a correction to the broken support level at the 1.4100 major psychological level.
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The US dollar is off to a strong start this week after ending higher against most of its forex counterparts last week.
NZDUSD seems to have completed its corrective wave, as price is finding resistance at the 61.8% Fibonacci retracement level on the 4-hour chart.
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The US dollar staged a strong rally against its forex counterparts when a couple of Fed officials gave a hawkish bias in their recent testimonies.
GBPUSD just bounced off resistance at the rising channel on its 1-hour forex chart and is currently testing the bottom of the range.
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The US dollar struggled to hold its ground in recent trading, as data came in stronger than expected.
AUDJPY recently made a strong break past the 93.50 minor psychological resistance then zoomed up to the 94.00 handle.
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The US dollar suffered a sudden selloff in yesterday’s New York trading session, as Fed head Janet Yellen’s testimony forced market participants to push back rate hike expectations.