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AUDUSD

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Technical Analysis – AUDUSD bearish below 0.75; needs to rise above 200-day MA

Posted on May 24, 2017 at 8:39 am GMT

AUDUSD maintains a downtrend that started from the March high of 0.7748. The bearish medium-term outlook has not changed as the market remains below the 200-day moving average. The crossover of the 50-day moving average below the 200-day MA earlier this week is supporting a bearish view. Meanwhile, MACD is below zero, also indicating bearishness in the market. The RSI indicator’s rise has stalled at 50, suggesting fading upside momentum in prices. The key 0.7500 level appears to be a [..]

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Forex Market Review (Asian Session) – Aussie weakens after China downgrade; oil rises ahead of OPEC

Posted on May 24, 2017 at 7:49 am GMT

The aussie reacted negatively to Moody’s downgrade of China’s rating to A1 from Aa3, amid concerns over rising debt and slowing economic growth. China is a major trading partner for Australia and so the news had the most impact on the currency which fell over 0.5% against the greenback to reach $0.7441 during the Asian session, reversing a three-day advance. Disappointing Australian construction data also weighed on the aussie. The US dollar bounced back and pulled away from recent lows of more [..]

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Forex Market Review (Asian Session) – Aussie jumps after jobs data; greenback pauses decline

Posted on May 18, 2017 at 7:47 am GMT

The US dollar rebounded against its major counterparts today after having tumbled sharply in the past two days due to political turmoil surrounding US President Donald Trump. The aussie jumped on forecast-beating Australian jobs data, while the yen showed little reaction to stronger Japanese GDP numbers. The dollar index hovered near six-month lows below 98 points as investors feared that Trump’s latest controversies could lead to a delay in passing legislation on pro-growth policies and tax reforms. The dollar touched [..]

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Forex Market Review (European Session) – Dollar slumps below 112 yen as gold surges; euro and pound extend gains

Posted on May 17, 2017 at 3:04 pm GMT

The US dollar remained under pressure in European trading on Wednesday as the political turmoil in the United States continued to dampen risk sentiment. The yen and the Swiss franc, along with gold, were the main winners from the risk aversion generated by the latest political uncertainty. The euro meanwhile held near its earlier highs and the pound also advanced higher versus the greenback. According to confirmed reports, a memo written by the then-FBI Director James Comey reveals President Donald [..]

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Forex Market Review (Asian Session) – Dollar weakness persists; euro rises above $1.10; oil holds gains

Posted on May 16, 2017 at 6:49 am GMT

The dollar index fell to a one week low as the greenback continued to weaken against a basket of currencies, following a series of soft US data recently, as well as domestic politics. The euro extended its rally, while oil prices held onto recent gains. The dollar came under pressure yesterday after a surprisingly soft US manufacturing report from the New York Federal Reserve. Meanwhile, an article in the Washington Post that US President Donald Trump divulged highly classified information [..]

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