Forex Analysis & Market Overview 14th Dec to 18th Dec - By Shivkumar
BTC/USD price has again reached the $19,500 to $20,000, breakout and close above the zone has a target objective of $23,576. A break below $ 19,500 from current level can hit the support $ 17,500, and pull the price to next support at $ 16,191.
USD/JPY USD/JPY battles 104.00, as bulls and bears key data from Japan shows recovery, and industrial production for October awaited. Risk-tone remains positive on weekend news concerning Brexit, US stimulus and covid vaccination. The pair is technically bearish and in 4 hours chart neutral to bearish.
GBP/USD the no-deal Brexit fears lurk beneath the table and can jump on anytime to change the sentiment. An upside around 1.3365 and 1.3420, meanwhile, fresh selling can wait for a daily closing below 50-day SMA, at 1.3157 now.
XAU/USD: - is currently trading near $1,836 per ounce, having put in a high of $1,841 early Monday. Technical charts suggest the bounce from recent lows has run out of movement and could fall to $ 1824 and could test $ 1,764. The bulls on the other had have to break $ 1875 and could target for $ 1925. The trends from the charts look bearish.
EUR/USD currency pair looks to be consolidating in a 1.2060-1.2175 range after breaking out of its $1.16-$1.20. Germany's lockdown during the Christmas holidays and potential weak PMIs could play spoilsport in the short-term and Germany PMI these week data has to be awaited.
AUD/USD Meanwhile, 0.7570 and 0.7600 round-figure can lure the AUD/USD bulls during the short-term. AUD/USD reverses early-Asian gains despite recently picking up the bids.
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