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USD/CAD edged lower despite stronger-than-expected U.S. Q4 GDP growth of 3.4%. Market focus remains on divergent central bank policies and rising oil prices, which continue to support the Canadian dollar. Technicals suggest near-term testing of support levels as traders weigh macro risks and monetary outlooks.
AUD/USD is poised to trade within an elevated range of 0.6440 to 0.6540, according to UOB Group analysis. Despite recent gains and modest upside momentum, the pair faces solid support and resistance at these levels, suggesting continued range-bound volatility. Key drivers include US economic data, Fed policy outlook, and Australian market sentiment. Traders should watch for a breakout to signal a directional shift.
GBP/USD remains range-bound as traders closely monitor upcoming US labour market data. Technical support near 1.2600 and resistance around 1.2800 set the stage for potential volatility. Market reaction to nonfarm payrolls could be the catalyst for the next directional move.
EUR/USD remains locked in a tight range near 1.0800 amid subdued volatility as traders await key economic data. Support at 1.0770 and resistance at 1.0830 are critical levels to watch. ECB’s cautious stance and Fed’s hawkish outlook keep sentiment mixed. Further breakout needed for clear direction. Analysis by Mahmoud Abdallah on DailyForex.com.
USD/JPY remains range-bound between 144.50 and 152.00 amid contrasting U.S. and Japan monetary policies. With the Fed pursuing higher rates and BoJ maintaining accommodative stance, traders await a clear breakout signal as yield gaps and intervention risks shape the outlook. #ForexAnalysis #USDJPY
USD/CAD slips below 1.3800 as growing expectations of Fed rate cuts weigh on the US dollar. Cooling US inflation and softer job data boost calls for easing, while rising oil prices and steady Canadian economic growth support the loonie. Traders eye Fed and BoC signals closely. #Forex #USDCAD
AUD/USD is expected to trade higher within a range of 0.6440 to 0.6540, supported by easing US Treasury yields, mixed Australian economic signals, and stable commodity prices. Technical indicators point to a bullish tilt with key resistance at 0.6540 and support at 0.6440. Market watchers should monitor US dollar movements and RBA guidance for potential catalysts. Insights based on FXStreet and UOB Group analysis.
Traders are closely watching GBP/USD ahead of key US labour market data, as the pair consolidates between 1.2600 support and 1.2800 resistance. With technical indicators neutral and market sentiment mixed, the upcoming US jobs report could set the next major directional move. Original article credit: InvestingLive.com
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