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USD/CAD Price Forecast: Bulls await 200-EMA breakout near 1.3770 ahead of FOMC Minutes
The USD/CAD pair attracts some dip-buyers on Wednesday and climbs to the 1.3765-1.3770 region during the first half of the European session, back closer to its highest level since April 14, touched the previous day.
Fxstreet
Wed, May 20
USD/JPY Price Forecast: Hovers around 159.00 near descending channel top
USD/JPY halts its seven-day winning streak, trading around 159.00 during the European hours on Wednesday. The currency pair holds above the nine- and 50-period Exponential Moving Averages (EMAs), keeping a constructive upside bias in place after recovering from last week’s dip.
Fxstreet
Wed, May 20
USD/CHF Price Forecast: Looks to extend gains beyond 0.7900, three-week top on firmer USD
The USD/CHF pair attracts some follow-through buyers for the second straight day and retests the three-week top during the early European session on Wednesday. Spot prices now look to build on over one-week-old uptrend further beyond the 0.7900 mark amid a bullish US Dollar (USD).
Fxstreet
Wed, May 20
Canadian Dollar struggles as oil prices ease, USD remains firm
USD/CAD remains stronger for the second successive day, trading around 1.3760 during the Asian hours on Wednesday. The pair appreciates as the commodity-linked Canadian Dollar (CAD) faces challenges due to a slight decline in oil prices.Fxstreet
Wed, May 20
Indian Rupee declines due to compounding pressure from higher oil prices, Treasury yields
The Indian Rupee (INR) continues to underperform against the US Dollar (USD) on Wednesday, trading close to its fresh all-time lows. The USD/INR pair holds onto gains near 97.00 as elevated oil prices due to fears of a prolonged closure of the Strait of Hormuz remain a key drag on the Indian Rupee.Fxstreet
Wed, May 20
AUD/JPY Price Forecast: Loses ground below 113.00, bullish vibe remains intact
The AUD/JPY cross loses traction to around 112.90 during the early European session on Wednesday. Japan's stronger-than-expected Gross Domestic Product (GDP) growth data for the first quarter (Q1) underpins the Japanese Yen (JPY) against the Australian Dollar (AUD).
Fxstreet
Wed, May 20
EUR/JPY Price Forecast: Slips below moving averages, 184.50
EUR/JPY loses ground for the second successive day, trading around 184.30 during the Asian hours on Wednesday. The technical analysis of the daily chart indicates the currency cross is remaining slightly below the upper boundary of an emerging descending wedge pattern.
Fxstreet
Wed, May 20
New Zealand Dollar declines below 0.5850, PBOC leaves lending benchmarks unchanged
The NZD/USD pair declines to around 0.5820 during the Asian trading hours on Wednesday. The US Dollar (USD) strengthens against the New Zealand Dollar (NZD) on rising tensions in the Middle East and a higher-for-longer Federal Reserve (Fed) interest rate stance.
Fxstreet
Wed, May 20
British Pound declines as risk-off mood prevails on Middle East tensions
GBP/USD extends its losses for the second successive day, trading around 1.3390 during the Asian hours on Wednesday. The pair depreciates as the US Dollar (USD) receives support from increased risk aversion stemming from the Middle East conflict.Fxstreet
Wed, May 20
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