By Orbex
USDCAD grinds higher
The Canadian dollar weakened after the BOC left the current QE unchanged.
Following the pair’s bounce off the daily support at 1.2500, the break above the congestion area near 1.2640 suggests strong commitment from the buy-side.
Lifting offers at 1.2705 may have opened the door to the recent peak at 1.2950. However, the RSI’s overbought situation may temper the bullish fever in the meantime.
The former resistance at 1.2620 has turned into support to test buyers’ resolve.
Free Reports:
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
NAS 100 breaks support
The Nasdaq 100 slumps as investors worry about moderating growth. The index is holding onto recent gains in the hope of reaching the next all-time high at 15800.
On the daily chart, the price’s divergence with moving averages combined with an overbought RSI could trigger mean reversion trades. The hourly chart is also painting an overextension.
The RSI’s bearish divergence indicates a loss in upward momentum.
A fall below 15520 would prompt traders to take profit. 15300 is key support on the 30-day moving average.
GBPJPY tests support
The sterling underperformed after the British government announced its plan to raise taxes.
The pair has broken below the rising trendline from the support at 149.20. This is an indication that the recovery momentum has slowed down.
An oversold RSI may attract buying interest at 151.30. Then a rebound will need to clear 152.50 to keep the bullish bias intact.
Failing that a fall below would trigger a sell-off as short-term buyers scramble for the exit. Further down, 150.50 would be the next target.
Article by Orbex
Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com
- Oil prices fall back to pre‑war levels. Silver drops to a 7‑month low Jun 25, 2026
- Gold Falls to an Eight-Month Low: This May Not Be the Bottom Jun 25, 2026
- Stock indices came under heavy selling pressure amid growing skepticism about AI investments Jun 24, 2026
- The Pound Is Pressured Not by Politics, but by a Strong US Dollar Jun 24, 2026
- Global crude oil prices continued to decline. The AUD/USD exchange rate hit an 11‑week low Jun 23, 2026
- EUR/USD Remains Under Sellers’ Control as the Dollar Stays Strong Jun 23, 2026
- Gold Falls for the Third Consecutive Week: Is There Still Upside Potential? Jun 22, 2026
- Bank Indonesia raised its interest rate. Norges Bank and the SNB left rates unchanged Jun 19, 2026
- EUR/USD Loses Ground as Market Sentiment Favours the US Dollar Jun 19, 2026
- GBPUSD Awaits Bank of England Meeting Near April Lows Jun 18, 2026
