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GBP/USD Price Analysis: Again fails to keep 100-day SMA breakout

1 month ago   |   By FXCM

GBP/USD remains depressed after taking a U-turn from 1.2490.
Two-week-old resistance-turned support could restrict immediate downside.
Bulls will have to cross June 24 top to confirm further advances.
GBP/USD eases from 1.2490 to currently around 1.2465 during the initial hour of Tokyo open on Thursday. The cable takes a U-turn from one-week-old to defy its previous day's break of 100-day SMA, which becomes frequent since the mid-June.
As a result, sellers are jostling with a 100-day SMA level around 1.2460 to revisit the falling trend line from June 16, at 1.2400 now.
It should, however...
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USD/ZAR Price Analysis: Refreshes 12-day low after breaking 100-day EMA

1 month ago   |   By FXCM

USD/ZAR struggles to keep the bounce off 16.99.
Sustained weakness below the key EMA pushes the bears towards one-month-old horizontal support.
Buyers will have 50-day EMA as an additional upside barrier to justify their strength.
USD/ZAR takes rounds to 17.05 during the early Thursday morning in Asia. The pair recently broke a two-week-old trading range while slipping below 100-day EMA, which in turn dragged it to the lowest levels since June 16. However, bullish MACD signals and 17.00 round-figure seem to offer pullback moves to the quote off-late.
As a result, the sellers will wait for...
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Gold Price Analysis: XAU/USD sellers look for entries below $1,765

1 month ago   |   By FXCM

Gold fails to extend pullback from $1,759 beyond $1,773.
50-bar SMA, support line of a monthly ascending channel offer strong support.
An upward sloping resistance line from June 02 becomes the key during fresh recoveries.
Gold prices stay soft around $1,772 during the early Thursday morning in Asia. The bullion refreshed the multi-year high the previous day. Though, a one-month-old rising trend line tamed the bulls. The precious metal currently takes round to the support line of a short-term bullish channel, also nearing the 50-bar SMA amid bearish MACD signals.
Considering the...
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AUD/NZD Price Analysis: 50-day SMA guards immediate upside under 1.0700

1 month ago   |   By FXCM

AUD/NZD extends recovery moves from one week low of 1.0651.
Monthly resistance line adds to the upside barriers.
A confluence of 100 and 200-day SMA becomes the key support.
AUD/NZD takes the bids near 1.0672 during the early Asian session on Thursday. The pair recently bounces off the weekly bottom surrounding 1.0650. However, 50-day SMA questions the pullback moves.
As a result, sellers remain hopeful to revisit a 13-day-old support line, at 1.0635 now, a break of which could drag the quote to June 15 low near 1.0580. However, 100 and 200-day SMAs will question the pair's further...
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