EURUSD came under strong selling pressure yesterday following Fed Chair Powell’s hawkish remarks, breaking back below the medium-term downtrend line drawn from the high of February 10. The pair extended its slide today, breaking a short-term upward sloping support line taken from the low of September 28. These technical signs suggest that the bears are back […]
The post EURUSD Slips Back Below Downtrend Line appeared first on Action Forex.
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BoC Deputy Governor Rhys Mendes said in a speech today that “We no longer need interest rates to be as restrictive as they were,” which justified the larger rate reduction of 50 bps at this Read more…
The Australian dollar declined as much as 1% on Tuesday before recovering these losses. In the European session, AUD/USD is trading at 0.6497, down 0.1% on the day. Earlier, the Aussie dropped to low of Read more…