Technical Analysis (22 AUG)
Euro – US Dollar
EUR/USD is extending gains above 1.0900, gathering upside traction in the European session. The pair takes advantage of an improving mood and sluggish US Treasury yields alongside a broadly weaker US Dollar. The focus shifts to US housing data and Fedspeak.
If trading above 1.09014 is traded, the growth will likely continue to 1.09300.
On the other hand, if it trades below the range of 1.09014, the decline is likely to continue to 1.08892.
US Dollar – Japanese Yen
USD/JPY consolidates the week-start gains by printing mild losses around 146.00 heading into Tuesday’s European session.
If the pair continues to trade above the range of 145.928, It will likely continue climbing to 146.717.
On the other hand, if the pair is traded below 145.928, it is expected to continue falling to 144.668.
British Pound – US Dollar
GBP/USD is advancing toward 1.2800, snapping a four-week downtrend early Tuesday. A broad-based US Dollar softness, a pause in the US Treasury yields rally, and a cautiously optimistic market mood helps the pair recover further ground.
If the pair is trading above 1.27456 it is expected to climb to the range of 1.28019.
On the other hand, if the pair trades below 1.27456 it is expected to fall to the range 1.27244.
US Dollar – Swiss Franc
USD/CHF takes offers to extend the previous week’s U-turn from a multi-day-old resistance line amid early Tuesday, down 0.10% intraday near 0.8775 by the press time.
If the pair is trading above 0.87978 it is expected to climb to the range of 0.88157.
On the other hand, if the pair trades below 0.87978 it is expected to fall to the range 0.87498.
Gold – US Dollar
Gold Price portrays bearish consolidation at the lowest level in five months while defending the week-start rebound amid mixed sentiment. US Dollar’s downbeat performance allows the XAU/USD to pare previous losses at the multi-day bottom.
If the pair is trading above 1892.76 It is expected to climb to the 1906.66 range.
on the other hand, if the pair trades below 1892.76 It is expected to fall to the range of 1886.80
