The currency pair is consolidating after a minor pullback. It hit an intraday high of 0.88391 and is currently trading around 0.8820. The intraday bias appears to be bearish as long as the resistance 0.9000 holds.
Recent statistics show a steady but conservative economic climate in the U.S. Initial jobless claims were slightly up but below projections, and continuing claims increased, indicating prolonged stays on unemployment rolls. The Philadelphia Fed Manufacturing Index fell but remained above market estimates, indicating slowing manufacturing expansion despite an optimistic employment forecast. Future indicators imply lower optimism over the next half year regarding growth, indicating doubts concerning future orders and general economic activity
Technical Analysis and Resistance Levels
The pair is trading above the 34-EMA and below 55-EMA on the 4-hour chart indicating a minor up trend. The immediate resistance is at 0.8865 any break above targets 0.8890/0.8940/0.9000/0.9035/0.9070/0.9100/0.9150/0.9200/0.92250/0.9275/0.9300.
Support Levels and Potential Declines
On the downside, near-term support is around 0.8750, any violation below will drag the pair to 0.8720/0.8660/0.8600.
Bullish Indicators
CCI (50) - Bullish
Directional movement Index - Neutral
Trading Strategy Recommendation
It is good to sell on rallies around 0.8850-525 with a stop-loss at 0.8890 for a TP of 0.8720.


Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact
FxWirePro: USD/ZAR neutral in the near-term, scope for downward resumption
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains
GBP/JPY Surges Post-BoE Cut: Bullish Momentum Eyes 210 as Support Holds at 207.80
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K
FxWirePro: GBP/USD dips lower on negative UK retail sales data
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike
FxWirePro: GBP/USD climbs above 1.34 after BoE's relatively hawkish cut
EUR/JPY Holds Bullish Bias Post-ECB Pause: Buy Dips Toward 185 as 182 Support Stands Firm
FxWirePro- Major European Indices
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865 



