NZDUSD Recovery Faces Key Test at 38.2% Retracement Level
NZDUSD buyers are gaining ground after a 422-pip decline, but must clear the 38.2% retracement at 0.57258 to confirm a meaningful recovery.
NZDUSD buyers are gaining ground after a 422-pip decline, but must clear the 38.2% retracement at 0.57258 to confirm a meaningful recovery.
The US Dollar Index edges higher Wednesday but lacks bullish conviction near 101.75–101.80, with key resistance at the 23.6% Fibonacci level of 101.90.
The Chinese Yuan trades at its strongest since 2022, yet IMF estimates suggest it remains undervalued by up to 25.3%, reflecting domestic imbalances.
Singapore's proposed stablecoin framework could push trading platforms to display regulatory status alongside price and market cap data.
Treasury Secretary Scott Bessent has hired economist Judy Shelton as an adviser. Shelton was nominated to the Federal Reserve Board by President Trump in 2019.
Trade Nation has acquired FXCM's UK client book for an undisclosed sum. The transfer is expected to complete in late November 2026.
The global diesel market is tightening fast. Washington is pressing Europe to release emergency reserves as prices threaten broader inflation.
Goldman Sachs estimates a US diesel export ban would cut American prices ~4% while raising European wholesale prices by about $3 a barrel.
USD/CAD intraday bias remains bullish as the rise from 1.3730 continues. A break of 1.4127 resistance targets the 1.4247 high.
EUR/CHF edged higher to 0.9478 but lost momentum. Bearish divergence on the 4H MACD signals a possible short-term top.
Exxon Mobil's rally from the June 25 low is unfolding as a five-wave diagonal, with wave 5 now complete and a corrective pullback expected.