Daily market news

Current price movements are likely part of a range trading phase likely between 0.5620 and 0.5690. In the longer run, NZD is likely to continue to rise, potentially reaching the major resistance at 0.5750, ING’s FX analyst Francesco Pesole notes.

Chance for Pound Sterling (GBP) to test 1.2375; major resistance at 1.2410 is unlikely to come into view. GBP view is positive, anticipating a move to 1.2410, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

The EUR/GBP cross holds steady around 0.8440 on Wednesday during the early European trading hours.

The USD/CHF pair rebounds to around 0.9070, snapping the two-day losing streak during the early European trading hours on Wednesday.

The EUR/JPY cross attracts follow-through buyers for the fourth straight day on Wednesday and looks to build on its recovery from the 159.70-159.65 area, or over a one-month low touched last week.

The EUR/USD pair drifts lower to around 1.0415 during the Asian trading hours on Wednesday.

Silver price (XAG/USD) extends its gains for the third successive session, trading around $30.80 per troy ounce during Asian hours on Wednesday.

The NZD/USD pair attracts some sellers to near 0.5660 during the early Asian session on Wednesday.

The EUR/USD sits around 1.0380, indicating a dip of 0.30% on Tuesday’s trade but managed to clear part of its daily losses.

The AUD/USD pair falls sharply to near 0.6220 in Tuesday’s North American session after a couple of failed attempts to revisit the key resistance of 0.6300.