AUDUSD

Technical Analysis – AUDUSD looking bearish after death cross

Posted on December 28, 2016 at 10:08 am GMT

AUDUSD benefited from an upwards correction today after falling into oversold territory in recent days. The pair has slid over 7% since the US election on November 8 and in the process, has retraced about 62% of the January to April upleg from 0.6826 to 0.7834. The near term bias remains bearish despite today’s upside momentum as RSI has barely crawled above 30, which separates oversold territory. The longer-term outlook is also negative following the bearish crossover of the 200-day [..]

Asian Session – Aussie and kiwi attempt a rebound as dollar stands firm after strong US data

Posted on December 28, 2016 at 9:25 am GMT

The US dollar continued to inch higher on Wednesday as strong consumer confidence data added support to the greenback in thin holiday trading, while most pairs were stuck in tight ranges ahead of the New Year holiday. Consumer confidence in the United States rose to a 15-year high in December according to the Conference Board’s survey released yesterday. The dollar was up slightly at 117.58 yen in late Asian session, which is just under 1% below its 10-month high of [..]

Asian Session – Dollar firmer as weak Japanese data weighs on yen

Posted on December 27, 2016 at 8:47 am GMT

The US dollar edged higher in Tuesday’s Asian session as volumes remained thin in the last trading week of the year. With the London market still closed today due to the Christmas bank holiday, it’s expected to be another quiet day. However, bargain hunting lifted the dollar higher versus the yen in Asian trading, helping it move away from one-week lows touched yesterday. The greenback lost some momentum last week following worse-than-expected personal income and consumption data for November out [..]

European Session – Dollar mixed in thin trade ahead of long holiday weekend

Posted on December 23, 2016 at 4:36 pm GMT

The US dollar struggled for momentum in Friday’s European session as volumes thinned out ahead of the long Christmas holiday weekend. Data showing that consumer confidence in the United States climbed to an 12-year high in December was unable to prevent the dollar from slipping against the yen in late session. The University of Michigan’s consumer sentiment index was revised from 98.0 in December’s preliminary reading to 98.2 in the final release – the highest since 2004. Expectations were for [..]

European Session – Dollar and loonie slip on disappointing data; Euro climbs to 1-week high

Posted on December 22, 2016 at 4:24 pm GMT

The US dollar broke out of its tight range in late European trading following soft US consumer spending figures, which spurred the euro to a one-week high. Economic data out of the United States and Canada dominated afternoon trading in Europe today in an otherwise lacklustre session as traders began emptying their desks ahead of the Christmas holiday weekend. The euro jumped higher versus the dollar, hitting a one-week high of 1.0499, on the back of the dollar’s slide. There [..]

Technical Analysis – AUDUSD in neutral bias as it struggles to move past 0.75

Posted on December 13, 2016 at 11:15 am GMT

AUDUSD has made several attempts over the past week for a clear break above the 0.75 handle but has been unable to close above 0.7494. There is strong resistance in the area between 0.7488 and 0.75. The 0.7488 level is the 38.2% Fibonacci retracement level of the November downleg from 0.7777 to 0.7310. The near-term bias is neutral with RSI currently just below 50 at 49. Momentum has been gradually improving since November’s 5-month low of 0.7310 but RSI has [..]

FX Daily Outlook | 24-11-16

Posted on November 24, 2016 at 11:08 am GMT

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Technical Analysis – AUDUSD looking bearish below 200-DMA

Posted on November 24, 2016 at 9:28 am GMT

AUDUSD has fallen over 5% in the two weeks after the US elections, crossing below the 50- and 200-day moving averages in the process. The pair retraced 74% of its May to November upleg from 0.7144 to 0.7777 before rebounding slightly to around the 61.8% Fibonacci retracement level. Prices are currently finding resistance at the 61.8% Fibonacci level around 0.7385 as the near-term bias remains strongly bearish as indicated by the deepening decline of the MACD in negative ground. However, [..]

FX Daily Outlook| 08-11-16

Posted on November 8, 2016 at 10:02 am GMT

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Technical Analysis – AUDUSD overall neutral bias; needs to remain above key 0.7700 level to keep bulls in play

Posted on November 8, 2016 at 8:58 am GMT

AUDUSD started trading today near Monday’s high of 0.7728 but fell during Asian trading to briefly dip below the key 0.7700 level. The pair has steadied above the 0.7700 level for now but it is an immediate support level which if breached would target next support of 0.7656 (Monday’s low). Below this level, next support lies at 0.7630. Clearing Monday’s high of 0.7728 could see further upside towards the October 20 high of 0.7733 and then the August high of [..]

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