EURUSD has been trending lower on its 1-hour time frame, moving inside a descending channel connecting the latest highs and lows. Price appears to be on its way to test the resistance once more after the channel support held.
The Australian dollar initially tried to rally during the day on Wednesday, but turned around back around to form a bit of a shooting star.
The EURUSD pair initially tried to rally during the course of the session on Tuesday, but fell significantly and broke down below the 1.12 level.
The AUDUSD pair fell initially during the course of the day on Tuesday, but found enough support to turn things back around and form a hammer.
The EURUSD pair initially tried to go higher on Monday, but turned back around to form a slightly negative candle.
The AUDUSD pair went back and forth on Monday, as we continue to struggle with the 0.73 level.
EURUSD’s fall from 1.1616 extended to as low as 1.1179. Deeper decline to test the support of the upward price channel on daily chart could be seen next week.
AUDUSD continued its downward movement from 0.7834, and the fall extended to as low as 0.7175.
GBPUSD remains in downtrend from 1.4769, the rise from 1.4332 could be treated as correction of the downtrend.
The EURUSD pair fell slightly during the course of the day on Wednesday, as we continue to see quite a bit of volatility in this choppy market.
