Day: July 29, 2020

July 29
2020

Sterling Inches Higher Against the Dollar on Sentiment, Fed Decision

The Sterling pound today inched higher against the US dollar for the ninth consecutive session as investors remained worried about the rising coronavirus cases in the US. The GBP/USD currency pair today broke out of an initial trading range during the Asian session and headed higher boosted by positive UK releases. The GBP/USD currency pair today rallied from a low of 1.2912 in the Asian session to a high of 1.3014 in the American session before giving up some […]

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July 29
2020

US Dollar Falls As Federal Reserve Leaves Interest Rates Unchanged

The US dollar is sliding against many of its most traded currency rivals midweek after the US central bank left its key interest rates unchanged. The greenback has been steadily declining since the market meltdown in March, and analysts are warning that the buck could fall even further amid inflation fears. With the Federal Reserve maintaining its dovish stance, how much more could the dollar […]

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July 29
2020

AUD/NZD Back Above 1.0707

The Australian versus the New Zealand dollar currency pair seems to have the bulls on its side. But is it really so? Long-term perspective The rally that started from the 0.9991 low extended to as high as 1.0880. This peak acted as a false piercing of the firm 1.0826 resistance level, and as a consequence, the bears took the opportunity to send the price lower. As a result, the next major support, 1.0707, was passed, leading to the piercing of the 1.0631 intermediary […]

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