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The US dollar regained ground in recent trading, as risk aversion seemed to set in the financial markets.
GBPCAD is currently on a strong uptrend and has just pulled back to the rising trend line support visible on the 4-hour time frame.
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The US dollar lost ground to its major counterparts when traders quickly booked profits after the PBOC’s yuan devaluation announcements.
USDCHF is still trending higher on its 4-hour chart, as the price dropped to the bottom of the rising channel then bounced off support.
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The US dollar took advantage of the run in risk aversion in recent trading sessions, after the Chinese central bank announced a devaluation of its currency.
NZDUSD broke below the triangle support on its 1-hour forex time frame, indicating that further losses are possible.
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The US dollar gave up ground in yesterday’s trading sessions when the labor market index fell from 1.4 to 1.1, leading some traders to pare expectations on a Fed rate hike this September.
AUDCAD recently broke past a consolidation pattern on its long-term time frames and is currently making a pullback.
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The US dollar had a volatile trading run on Friday, as the NFP report came in slightly weaker than expected.
AUDUSD could be in for a long-term reversal from the recent downtrend, as an inverse head and shoulders pattern can be seen on its 4-hour time frame.