AUDUSD

Technical Analysis – AUDUSD’s bigger positive bias struggles, as current neutral phase extends

Posted on June 22, 2020 at 12:47 pm GMT

AUDUSD in the near-term is looking mostly directionless as it drifts sideways restricted by the Ichimoku cloud. While the 100- and 200-period simple moving averages (SMAs) back the bigger positive picture, the downward sloping 50-period SMA – which is about to complete a bearish crossover of the 100-period one – promotes upcoming losses. Furthermore, conflicting signals in directional momentum can be observed by glancing at the short-term oscillators. The MACD, in the negative region, is improving above its red trigger [..]

Daily Market Comment – Investors grapple with the virus blues

Posted on June 22, 2020 at 10:50 am GMT

Markets struggle for direction as second wave worries intensify WHO reports record increase in global cases, Apple re-closes some US stores Gold spikes higher but FX and stocks still not overly concerned Looking ahead, the battle between stimulus-fueled optimism vs second wave concerns will drive sentiment Emotional rollercoaster continues With the correlation between FX and stock markets going through the roof in recent months as the dollar reclaimed its safe-haven throne, risk sentiment has become the dominant force in the [..]

Daily Market Comment – Stocks drift, dollar holds firm amid growth, second wave worries

Posted on June 19, 2020 at 8:53 am GMT

Markets struggle for direction as persisting second wave fears weigh on sentiment US-China relations back in spotlight as Trump threatens to ‘decouple’ Pound steadier after hawkish surprise from BoE sends currency spinning lower Markets dogged by virus spike, recovery doubts Risk appetite is looking increasingly on borrowed time as stocks turn sideways, having lost momentum after last week’s sell-off. Global shares on Friday could only manage a tepid rebound from yesterday’s dip while gold headed higher amid ongoing worries about [..]

Daily Market Comment – Dollar firms, stocks slip as spike in virus cases begins to cause worry

Posted on June 18, 2020 at 8:50 am GMT

Risk appetite wanes as markets start to take second wave fears more seriously Surge in cases in Beijing and US drive up dollar demand, weigh on stocks Pound weaker ahead of BoE decision; aussie and kiwi stumble on poor data Risk rally on pause as second wave threatens recovery A worrying increase in the number of new COVID-19 cases in several locations around the world appears to have put the brakes on the risk rally that just a few days [..]

Technical Analysis – AUDUSD cautiously positive after pullback stalls uptrend

Posted on June 18, 2020 at 7:52 am GMT

AUDUSD appears paused after having pivoted from a formed nearly 11-month peak of 0.7064, something also reflected in the flattened Ichimoku lines. Although the tone of the 50-, 100-day simple moving averages (SMAs) and the Ichimoku lines sponsor an improving picture, the short-term oscillators reflect weakening positive momentum. The MACD, deep in the positive zone, is declining below its red signal line, while the RSI drops in bullish territory. If sellers maintain control and the support section of 0.6749 – [..]

Australian jobs data: A risk for the high-flying aussie? – Forex News Preview

Posted on June 17, 2020 at 12:02 pm GMT

The latest employment numbers out of Australia will hit the markets at 01:30 GMT Thursday and forecasts point to more job losses, though that may be more of a counting issue than a reflection of real economic conditions. The high-flying aussie could spike lower if the data disappoint, but its broader direction will hinge mainly on risk sentiment. On that front, much will depend on how the global virus picture evolves, especially in America. Statistical shenanigans? Australia is expected to [..]

Daily Market Comment – Geopolitical tensions and virus spike dampen sentiment, but not much

Posted on June 17, 2020 at 8:51 am GMT

Rising regional tensions and a worrying increase in coronavirus cases weigh on risk assets But safe havens barely supported as growth optimism and drug hopes keep risk appetite alive Yen and gold slip, aussie bounces back from lows as stocks turn green Geopolitical tensions on the rise Clashes along the border between India and China as well as fresh provocations by North Korea over the last 24 hours raised fears of a serious flare up in regional conflicts amid a [..]

Daily Market Comment – Stocks slide again on second wave fears; Pound skids ahead of Brexit talks

Posted on June 15, 2020 at 8:42 am GMT

A resurgence of coronavirus cases sends stocks into a tailspin again Aussie takes a beating, yen and franc up, but gold unable to capitalize Pound extends losses as Johnson tries to kickstart stalled Brexit talks End of the risk rally? The unstoppable risk rally that’s pushed global stocks close to erasing their virus-led losses is in danger of faltering as fears of a second wave of infections intensify. Several states in America have seen a large increase in the number [..]

Technical Analysis – AUDUSD dives below 0.6800, posting 2-week low

Posted on June 15, 2020 at 7:49 am GMT

AUDUSD is slipping to a new two-week low around 0.6775, penetrating the 38.2% Fibonacci retracement level of the up leg from 0.6375 to 0.7065 at 0.6800 and the lower surface of the Ichimoku cloud. According to the momentum indicators, the RSI is moving sideways in the negative zone, while the stochastic dropped in the oversold zone, confirming the recent negative structure. Additionally, the 20- and 40-period simple moving averages (SMAs) completed a bearish crossover in the 4-hour chart. A stronger [..]

Week Ahead – BoE and Brexit could create perfect storm for pound; BoJ and SNB meet too

Posted on June 12, 2020 at 12:49 pm GMT

An upcoming summit of EU leaders could decide the fate of the European recovery fund and the direction of Brexit talks, setting up possible stumbling blocks for the euro’s and pound’s rebounds. The pound will also be keeping an eye on the Bank of England’s policy meeting, with more QE looking likely. The Bank of Japan’s and Swiss National Bank’s respective meetings are not expected to be as exciting. But as some of the recent optimism starts to fade, it [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms