Dollar Staying as the Strongest, But Canadian Resilient Too
Action Insight Daily Report 7-12-22

Dollar Staying as the Strongest, But Canadian Resilient Too

Dollar is staying as the strongest major currency in the market for now. Yen and Swiss Franc are not performing too badly, as supported by mild risk-off sentiment. But Canadian Dollar is also resilient, awaiting BoC's decision on whether to deliver a jumbo rate hike. Aussie and Euro are currently the worst, while Sterling is also week. These three have already broken through recent lows against the greenback.

Technically, CAD/JPY is worth some attention for the coming days. Price actions fro m107.19 are clearly corrective while the cross is also supported comfortably above 55 day EMA. It has the better potential to follow USD/JPY for an upside breakout. Break of 107.19 will extend the larger up trend towards 110 handle next.

In Asia, Nikkei dropped -1.77%. Hong Kong HSI is down -1.12%. China Shanghai SSE is down -0.95%. Singapore Strait Times is up 0.11%. Japan 10-year JGB yield is down -0.0007 at 0.249. Overnight, DOW dropped -0.52%. S&P 500 dropped -1.15%. NASDAQ dropped -2.26%. 10-year yield dropped -0.011 to 2.991.

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Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.1827; (P) 1.1932; (R1) 1.1998; More...

GBP/USD's down trend resumes after brief consolidations. Intraday bias is back on the downside for 100% projection of 1.2666 to 1.1932 from 1.2405 at 1.1671. Decisive break there will target a test on 1.1409 long term support. On the upside, above 1.2055 minor resistance will now indicate short term bottoming, and turn bias to the upside for stronger rebound.

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EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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