The Relative Strength Index (RSI) warn of a larger pullback in USD/JPY as the oscillator falls back from overbought territory to indicate a textbook sell signal.
Australian Dollar surged 3% off the weekly low with Aussie snaping back above a key support pivot post-FOMC. Levels that matter on the AUD/USD weekly technical chart.
The Canadian Dollar collapsed for a second week with USD/CAD now testing key resistance near the yearly highs. Loonie levels that matter on the weekly technical chart.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger France 40-bearish contrarian trading bias.
The Bank of England raises interest rates by 25 basis points to 1.25%, the fifth consecutive hike aimed at cooling inflationary pressures in the economy and restoring price stability.