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EUR/GBP is testing support at 0.8700 despite risk-on markets
The Euro (EUR) trades lower against the British Pound (GBP) for the third consecutive day on Wednesday, with bears testing support at 0.8700 at the time of writing. The Pound fares better than the common currency amid the positive market sentiment triggered by the ceasefire in Iran.
Fxstreet
Wed, Apr 8
EUR/JPY Price Forecast: Trades near 185.00 after pulling back from upper channel boundary
EUR/JPY edges lower after two days of gains, trading around 185.00 during the European hours on Wednesday. The technical analysis of the daily chart suggests the currency cross is moving upwards within the ascending channel pattern, indicating bullish bias.
Fxstreet
Wed, Apr 8
NZD/USD: RBNZ hawkish nuance but Kiwi capped – Commerzbank
Commerzbank’s Volkmar Baur reports that the Reserve Bank of New Zealand (RBNZ) left rates unchanged, but Governor Breman’s comments about discussing a hike were read as slightly hawkish, supporting the New Zealand Dollar (NZD) against the US Dollar (USD).Fxstreet
Wed, Apr 8
USD/JPY Price Forecast: Symmetrical Triangle breakdown below 159.00 warrants more downside
The USD/JPY pair trades 0.9% lower to near 158.20 during the European trading session on Wednesday. The pair faces intense selling pressure as the US Dollar (USD) underperforms across the board, following the announcement of a two-week ceasefire between the United States (US) and Iran.
Fxstreet
Wed, Apr 8
USD/CAD Price Forecast: Struggles near mid-1.3800s as bears await break below 200-day EMA
The USD/CAD pair extends its weekly downtrend for the third straight day and dives to a nearly two-week low on Wednesday, though it lacks follow-through selling. Spot prices trade around mid-1.3800s, down nearly 0.30% for the day, amid mixed fundamental cues.
Fxstreet
Wed, Apr 8
Australian Dollar jumps on US–Iran ceasefire, traders await FOMC Minutes
The AUD/USD pair climbs to around 0.7080, the highest since March 20, during the early European trading hours on Wednesday. The Australian Dollar (AUD) edges higher against the Greenback as the ceasefire between the US and Iran triggers a broad risk-on sentiment.
Fxstreet
Wed, Apr 8
NZD/USD Price Forecast: Hovers around 0.5850, 50-day EMA due to bullish reversal
NZD/USD gains ground for the third consecutive day, trading around 0.5850 during the early European hours on Wednesday. The technical analysis of the daily chart signals a bullish reversal as the pair rises above the descending channel pattern.Fxstreet
Wed, Apr 8
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