The USD/JPY pair has broken the 113.20 price level in a strong bearish move and is heading towards the 111.81 resistance line. At the same time, momentum indicators have reversed a previous bullish position; with RSI pulling back from the 70 resistance level.
Impact event: U.S. CPI data will be released at 12:30 GMT and will impact all U.S. Dollar pairs.
The EUR/USD pair continues to test the 1.153 price level, though a series of doji candles indicates that market participants are indecisive. Momentum indicators are turning more bullish; with MACD beginning a momentum reversal and RSI bouncing back from the 30 support level.
The GBP/USD pair has broken the 1.306 price level as well as the ascending trendline. Momentum indicators are moderately bullish; RSI has reversed a previous bearish trajectory and MACD is pulling away from the zero line.
Impact event: Governor Carney speech at 09:00 GMT will likely impact all GBP pairs.
The USD/CHF pair has returned from testing the 0.993 price level and appears to be taking on a bearish trajectory. Momentum indicators are retracing from a bullish position with MACD flattening just above the zero line and RSI pulling away from the overbought area.
The USD/CAD is undergoing a bullish reversal and has broken the 1.294 price level. The pair is heading close to the descending trendline which, on previous occasions, has resulted in a retracement. RSI has reversed its position from oversold conditions and MACD appears to be undergoing a momentum reversal.
Silver has retraced back towards the 14.41 price level after the recent bullish move failed to gain traction. MACD appears to be on the verge of a break of the zero line. RSI has flattened in neutral/bearish territory.
The 1209.70 price level has developed as a strong resistance area for Gold in recent trading, with each attempt to break the price level being rejected. The pair will likely trade in range between the 1173.96 and the 1209.70 price levels. Momentum indicators are neutral with MACD falling just short of the zero line.
Oil price has rejected the ascending trendline, falling back to break both the 73.44 and 72.02 support levels. Momentum indicators are also reversing, MACD has become less positive and RSI has pulled back from overbought conditions.