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The Australian dollar has posted strong gains for a second straight day. In the European session, AUD/USD is trading at 0.6306, up 0.47% on the day. RBA holds rates but hints at further cuts if trade tensions worsen The Reserve Bank of Australia maintained the cash rate at 4.10% on Tuesday, in a move that […]

The post Australian Dollar Rally Continues, Trump Tariffs Loom appeared first on Action Forex.

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16/05/2024

AUDUSD Eases After Bullish Spike to 4-Month High

AUDUSD jumps above trading range MACD indicates more gains; but RSI heads south 20- and 50-day SMAs post bullish cross AUDUSD posted a strong bullish day on Wednesday, showing some more upside pressure today, towards a fresh four-month high, exiting from the consolidation area of 0.6390-0.6635. A rally higher until the next resistance level of […]
16/10/2024

GBP/USD: Dips Below 1.3000 on Weaker Than Expected UK CPI Numbers

Cable accelerated lower and cracked psychological 1.30 support, to hit the lowest in almost two months in early Wednesday. Sterling was down 0.8% in immediate reaction to economic data which showed that UK inflation fell more than expected in September and dipped below BoE’s 2% target, adding to bets for more rate cuts towards the […]
11/12/2024

EURGBP Wave Analysis

EURGBP under bearish pressure Likely to fall to support level 0.8200 EURGBP currency pair under bearish pressure after breaking the support zone between the key support level 0.8265 (which stopped previous waves iii, (i) and i) and the support trendline of the Descending Triangle from November. The breakout of this support zone accelerated the active […]