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EUR/USD TECHNICAL ANALYSIS
EUR/USD lacked directional conviction on Friday, holding above its 200-day easy shifting common at 1.0840. To spice up sentiment in the direction of the euro, this ground should stay intact, as a breach might result in a decline in the direction of 1.0770. If weak point persists, all eyes will probably be on 1.0700 deal with.
Conversely, if bulls orchestrate a turnaround and push costs greater, preliminary resistance stretches from 1.0910 to 1.0930. Sellers are prone to vigorously defend this zone on one other retest; nonetheless, a profitable breakout may pave the way in which for a rally towards 1.1020.
EUR/USD TECHNICAL CHART
EUR/USD Chart Ready Utilizing TradingView
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Change in
Longs
Shorts
OI
Day by day
-1%
-22%
-12%
Weekly
-6%
13%
2%
USD/CAD TECHNICAL ANALYSIS
USD/CAD has rallied sharply since late 2023, however its upward momentum has began to fade following an unsuccessful try at clearing trendline resistance and a key Fibonacci stage close to 1.3540, a rejection that led to a modest pullback in the direction of the 200-day easy shifting common at 1.3475.
Though the short-term outlook stays constructive, costs want to remain above the 200-day SMA to protect this bias; failure to take action may entice new sellers into the market, creating the proper circumstances for a pullback in the direction of 1.3385.
In case of a bullish continuation, resistance lies at 1.3540, as said earlier than. Whereas patrons may need a tough time pushing the trade price above this space, a clear break may ship the pair in the direction of 1.3570. On additional energy, there’s potential for an advance in the direction of 1.3625.
USD/CAD TECHNICAL CHART
USD/CAD Chart Created Utilizing TradingView
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AUD/USD TECHNICAL ANALYSIS
AUD/USD sank from late December by early this week, however has bounced off technical help at 0.6525. The point of interest now could be on whether or not the pair can shut above the vary of 0.6570-0.6580 on a weekly foundation. If it does, a possible rally towards 0.6650 and subsequently 0.6700 could also be on the horizon.
On the flip aspect, ought to sellers reemerge and drive costs under the 100-day SMA close to 0.6525, the following necessary space of help seems at 0.6500, which corresponds to the 61.8% Fib retracement of the October/December leg greater. Beneath this threshold, all consideration will probably be on 0.6460.
AUD/USD TECHNICAL CHART
AUD/USD Chart Created Utilizing TradingView
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