FxWirePro: USD/CAD falls to one-month low, scope for further downside 
FxWirePro: NZD/USD rallies as NZ inflation hits 2-1/2-year high 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro: GBP/NZD dips as sterling eases as Burnham steps in 
FxWirePro- Major Pair levels and bias summary 
CAD/JPY Surges on Broad-Based Canadian Dollar Buying 
FxWirePro: USD/CAD advances as loonie dips on softer Inflation and Middle East uncertainty 
Major Pairs Action Bias: NZDUSD Turns Extremely Bullish as EURUSD Stays Bearish – AUDUSD Emerges as Key Bullish Pair to Watch 
Major Crypto Action Bias: BTC, ETH & SOL Turn Bullish – SOLUSD Leads as the Top Pair to Watch 
JPY Action Bias: NZDJPY and AUDJPY Stand Out as the Most Bullish Pairs 
FxWirePro: USD/CNY dips as yuan firms as investors await policy cues 
JPY Action Bias: Bullish Winds Strengthen – NZDJPY Leads the Charge as Top Pair to Watch 
Major Pair Action Bias: AUDUSD and NZDUSD Bullish While EURUSD Turns Bearish 
FxWirePro:GBP/AUD slips as markets assess Burnham's rise to UK premiership 
NZDJPY Bullish Above 95: Buy Dips Toward 97 as Kiwi Strength Holds Firm 
FxWirePro :USD/JPY drifts above 162 as range trading persists 
The pair pared some of its gains after the BOE monetary policy. Intraday bias remains bearish as long as resistance 0.8450 holds. It hit an intraday low of 0.83600 and is currently trading around 0.83677.
The ECB and BoE are diverging in their monetary policy, with the ECB lowering interest rates to stimulate the sluggish Eurozone economy, while the BoE is leaving rates steady due to concerns about an economic downturn and persistent core inflation in the UK. This divergence is founded on different economic conditions and expectations, which may lead to currency value fluctuations as traders respond to interest rate differentials.
Technical Analysis
The pair is currently trading below the 34- and below 55-EMA on the 4-hour chart.
- Bearish Trend Confirmation: Any break below 0.8340 confirms an intraday bearish trend. A drop to 0.8320/0.8290/0.8220/0.8190 is likely.
- Near-Term Resistance: Current resistance is around 0.8450. Any violation above will push towards 0.8470/0.8500/0.8580. The bearish outlook would be invalidated only if the price goes above 0.8500.
Indicator Analysis (4-hour chart)
- CCI (50): Bearish
- Average Directional Movement Index: Neutral
Trading Recommendation
It is good to sell on rallies around 0.8400 with a stop loss around 0.8450 for a target price of 0.8300.
