Technical Analysis (29 AUG)
Euro – US Dollar
EUR/USD is trading firmer above 1.0800, moving away from over a two-month low. The pair is supported by a modest USD downtick. Retreating US bond yields and a positive risk tone turn out to be key factors weighing on the Greenback ahead of the US jobs and sentiment data.
If trading above 1.08170 is traded, the growth will likely continue to 1.08507.
On the other hand, if it trades below the range of 1.08170, the decline is likely to continue to 1.07833.
US Dollar – Japanese Yen
The USD/JPY pair oscillated in a narrow range near 146.42 during the early European trading hours on Tuesday.
If the pair continues to trade above the range of 146.492 It is likely to continue climbing to 146.713.
On the other hand, if the pair is traded below 146.492, it is expected to continue falling to 146.022.
British Pound – US Dollar
GBP/USD is holding on to the renewed upside, heading toward 1.2850 in the European morning on Tuesday. The extended retreat in the US Dollar alongside the US Treasury bond yields underpin the pair. Focus shifts to the mid-tier US economic data for fresh cues.
If the pair is trading above 1.25971it is expected to climb to the range of 1.26469.
On the other hand, if the pair trades below 1.25971 it is expected to fall to the range 1.25789.
US Dollar – Swiss Franc
The USD/CHF pair extended its upside for the second consecutive day above the mid-0.8800s during the Asian session on Friday.
If the pair is trading above 0.88352 it is expected to climb to the range of 0.88526.
On the other hand, if the pair trades below 0.88352 it is expected to fall to the range of 0.87997.
Gold – US Dollar
Gold Price defends the previous weekly recovery, the first in five, as it rises for the second consecutive day amid the broad US Dollar weakness. Also adding strength to the XAU/USD rebound is the cautious optimism in the market, as well as the downbeat Treasury bond yields.
If the pair is trading above 1920.00 It is expected to climb to the 1933.44 range.
on the other hand, if the pair trades below 1920.00 It is expected to fall to the range of 1913.99
