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The EUR/JPY pair gives up its entire intraday gains and ticks lower to near 161.50 during North American trading hours on Thursday. The pair faces a sharp sell-off as the Euro (EUR) underperforms after the monetary policy announcement by the European Central Bank (ECB).

The AUDUSD continues to trade in a choppy, range-bound market since Tuesday. During the late Asian and early European sessions, the pair found support at 0.6334, which sits within a key swing area between 0.6326 and 0.6341 (see green numbered circles on the chart above).

On the topside, today’s high stalled at 0.6382, just below a notable resistance ceiling at 0.6390. The last 3 highs including yesterday, have stalled at that level (see red numbered circles). A break above that level would shift focus toward:

• The 2025 high from February at 0.6407

• The 50% retracement of the decline from the September 30, 2024 high, coming in at 0.6428

For now, AUDUSD remains range-bound, but a break outside the current boundaries could set the tone for the next directional move

This article was written by Greg Michalowski at www.forexlive.com.

Daily Pivots: (S1) 0.8092; (P) 0.8163; (R1) 0.8206; More… Intraday bias in USD/CHF stays neutral for consolidations above 0.8098. While stronger recovery might be seen, upside should be limited by 55 4H EMA (now at 0.8313) to bring another fall. On the downside, break of 0.8098 will resume recent down trend to 200% projection of […]

The post USD/CHF Mid-Day Outlook appeared first on Action Forex.

Daily Pivots: (S1) 1.3205; (P) 1.3249; (R1) 1.3285; More… Intraday bias in GBP/USD stays neutral for consolidations below 1.3291 temporary top. Further rally is expected as long as 55 4H EMA (now at 1.3085) holds. Above 1.3291 will resume the rise from 1.2099 to 61.8% projection of 1.2099 to 1.3206 from 1.2706 at 1.3390, and […]

The post GBP/USD Mid-Day Outlook appeared first on Action Forex.

Christine Lagarde, President of the European Central Bank (ECB), explains the ECB’s decision to lower key rates by 25 basis points at the April policy meeting and responds to questions from the press.

• We’ll use whatever instrument is appropriate
• No one argued for a 50 basis point cut
• A number of governors a few weeks ago would have argued to skip a rate cut
• We will determine our monetary policy stance based on what is appropriate
• We are not targeting any exchange rate

The euro has bounced back on broad US dollar selling. It’s trimmed today’s decline by about 25 pips though is still down 30 pips on the day.

This article was written by Adam Button at www.forexlive.com.