Forex Market Analysis & Overview - 7th Dec - 11th Dec - By Shivkumar
BTC/USD the daily chart shows that failing to break $19,000 barrier will lead to a retracement support around $16,000.We see buying pressure around the $16,000 and enter a period of consolidation before its targets to $22,000. The support at $ 16,000 is crucial as either the pair could rebound or could break below to $ 13,000.
USD/JPY bulls manage to near 104.50, and will target 104.75 and 105.70. And sellers can target low near 103.65 but the downside movement is limited.
GBP/USD the pair looks Overbought RSI, Brexit uncertainties can trigger the pair near 1.3370 and around 1.3315, offers immediate supports. If the bull sustained trading beyond near 1.3615 can target surrounding 1.3810.
XAU/USD: - stays below $1,850 and traders ignore Brexit woes amid stimulus, vaccine hopes. Immediate resistance $1,842 and near $1,851 for the gold bulls. Seller are waiting for a downside around $1,817, and might fall to $1,800.
EUR/USD is trading in a sideways and bulls shows signs of exhaustions. the pair risks revisiting sub-1.21 levels. The crucial level 1.2175 is the level to beat for the bulls.
AUD/USD stays above 0.7400 amid stimulus hopes, eyes China trade data. The bulls are directed top surrounding 0.7485 once the level is broken can see a short-term low around 0. 7400.
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