The EURUSD pair fell during the bulk of the session on Wednesday, with that, we feel that the market forming the hammer at this point suggests that the 1.37 level will certainly continue to offer support,
The USDJPY pair initially fell hard during the session on Wednesday, dipping below the significant 101 level. That level has been rather supportive over the last several weeks and as a result we were a bit surprised to see that level broken through.
EURUSD’s downward movement from 1.3993 had completed at 1.3648 already, and the pair is now in uptrend.
GBPUSD’s upward movement from 1.6731 extended to as high as 1.6864.
USDJPY’s downward movement from 102.36 extended to as low as 101.10.
AUDUSD has been on a steady uptrend, as seen on the 4-hour time frame, but it appears that the rally is slowing down.
EURUSD remains in downtrend from 1.3993, the rise from 1.3648 could be treated as consolidation of the downtrend. Resistance is now at 1.3735,
AUDUSD continued its sideways movement in a range between 0.9318 and 0.9408.
The AUDUSD pair went back and forth during the session on Thursday, ultimately printing a fairly neutral candle.
The EURUSD pair fell hard during the session on Thursday, breaking well below the 1.37 level, but part of this would’ve been based upon news headlines coming out of Spain that the European Central Bank might bring its rate down to negative real rates.
