USD The US dollar had a mixed performance lately, as the lack of top-tier catalysts left it functioning as a counter currency instead of driving any directional moves. According to FOMC member Fischer, the US central bank stands ready to make adjustments if any issues arise during the normalization process. For today, the US Beige…

AUDUSD is currently bouncing off the bottom of its long-term range visible on the daily time frame, partly supported by the pickup in risk sentiment and stronger than expected data in China. The pair has found support at the .6950 minor psychological level and climbed back above .7000, possibly setting its sights on the top…

USD The US dollar returned some of its recent wins to the commodity currencies but regained ground to the euro and the Japanese yen. Data from the US economy was actually stronger than expected, as the labor market conditions index ticked higher, but Fed official Lockhart's remarks downplayed the odds of a March Fed rate…

USD The US dollar gave back some of its wins to its rivals, particularly the European currencies, when US equities also tumbled on risk aversion. The S&P 500 and Nasdaq closed roughly 3% lower for the day, as investors worried that higher borrowing costs would make it more difficult for companies to stay profitable when…

USD The US dollar is on relatively strong footing this week, especially since the Fed recently started its rate hike cycle and data from the US came in mostly stronger than expected. The ISM manufacturing PMI is up for release today and a rise from 48.6 to 49.1 is eyed. Stronger than expected data could…

EURGBP is still inside its long-term range visible on the daily time frame and currently testing the resistance around the .7400-.7450 levels. If this area keeps gains in check once more, a move back towards the range support at the .7000 major psychological level could be seen. Stochastic and RSI are both indicating overbought conditions,…

USD The Fed increased rates by 0.25% as expected, upgrading growth and employment forecasts for 2016 as well. Although they downgraded their PCE inflation estimates for next year, Fed head Yellen still showed confidence in US fundamentals. In terms of data, industrial production, capacity utilization, and the flash manufacturing PMI all missed expectations. The Philly…

USDJPY previously broke below a consolidation pattern visible on its 4-hour time frame then dipped to a low of 120.30 before showing signs of a retracement. Using the Fibonacci retracement tool on the latest swing high and low shows that the broken support lines up with the 61.8% Fib. This also coincides with the 122.50…

USD The US dollar was able to bounce back against its peers when data came in mostly in line with expectations. The headline CPI stayed flat in November while the core version of the report showed a 0.2% uptick. The Empire State manufacturing index rose from -10.7 to -4.6, higher than the projected climb to…

AUDUSD might be in for a long-term reversal from its previous uptrend, as a complex head and shoulders can be seen on its 4-hour time frame. Price is currently testing the neckline near the .7150 minor psychological level, with a breakdown likely to push the pair lower by an additional 200 pips or the same…

USD The US dollar had a mixed performance, although it was generally weaker against most of its peers with traders lightening up on their long positions ahead of the FOMC statement later on. No reports were released from the US yesterday while today has the Empire State manufacturing index lined up. A climb from -10.7…

GBPUSD has been slowly trending higher, moving inside a rising wedge pattern visible on its 4-hour time frame. Price is currently testing the wedge support and might be due for a bounce back to the top. Stochastic and RSI are both moving out of the oversold region, indicating a return in buying pressure. This could…

NZDUSD has recently broken past a key resistance level at the .6600 major psychological mark then zoomed up close to the .6800 handle before showing signs of a pullback. Using the Fib tool on the latest swing high and low shows that the 61.8% retracement level lines up with the area of interest. Stochastic and…

USD The US dollar was able to recover at the start of the week, thanks to the downturn in commodity prices and the return in risk aversion. There were no major reports out of the US economy, as it seems that market participants are just bracing themselves for a rate hike next week. EUR The…

USD The US dollar managed to make a quick rebound on Friday, thanks to upbeat jobs data. The US economy added 211K jobs in November, higher than the projected 201K gain. Meanwhile, the previous report enjoyed an upgrade from 271K to 298K and the unemployment rate held steady at 5.0%. Average hourly earnings rose 0.2%…

EURAUD has been in a steady downtrend on its longer-term time frames, with a descending trend line connecting the latest highs of price action. Price made a sharp pop higher after last week's ECB rate statement but it looks like the falling resistance area is still holding. This trend line coincides with the dynamic resistance…

USD The US dollar had a late rally during the New York trading session as Fed Chairperson Yellen reiterated her hawkish bias. Data from the US economy fell below expectations, as the ISM non-manufacturing PMI dropped from 59.1 to 55.9 instead of just dipping to 58.1. Still, analysts are expecting to see an upbeat NFP…