All Articles Tagged - AUDUSD

Technical Analysis – Will AUDUSD exit the range again?

Posted on April 30, 2024 at 9:04 am GMT

AUDUSD comes under selling interest this week But stays within sideways range A break below 0.6485 may turn the outlook bearish For the picture to brighten, a move above 0.6615 may be needed AUDUSD was sold this week, after the bulls struggled to overcome the 0.6575 barrier. In the bigger picture, the pair is trading back within the sideways range that has been containing most of the price action since mid-January and thus, the outlook remains neutral. The MACD lies well above [..]

Technical Analysis – AUDUSD set to complete best week of the year

Posted on April 26, 2024 at 1:47 pm GMT

AUDUSD set to close the week 2% higher, but still neutral in 2024 Next resistance near 0.6570; the 0.6640 bar could be tougher AUDUSD is exhibiting its best week of the year, looking to extend its rally above the bearish channel and towards the next critical resistance zone of 0.6563, where the 200-day exponential moving average (EMA) and the broken support trendline from October 2023 are positioned. After six consecutive green daily sessions, some stability or a pullback would not be [..]

Can Chinese PMIs solidify the economy’s recovery prospects? – Preview

Posted on April 26, 2024 at 11:03 am GMT

Important Chinese PMI surveys on Tuesday, ahead of the Fed meeting Improvement across the board could be on the cards after positive GDP print Aussie could benefit against the US dollar Data to be released on Tuesday at 01.30 and 01.45 GMT respectively A Fed-dominated week The market’s focus next week will be firmly on Wednesday’s Fed meeting. Its outcome and the overall rhetoric could dictate market sentiment for the next month. On Tuesday, the April Chinese PMI surveys will be released. [..]

Technical Analysis – AUDUSD rises near short-term SMAs

Posted on April 25, 2024 at 7:13 am GMT

AUDUSD rebounds off 0.6360 Bullish doji indicate upside correction MACD and RSI tick higher AUDUSD is heading upwards after the bullish doji candle that has been posted last Friday, adding almost 3%. The market is challenging the short-term simple moving averages (SMAs), switching the outlook to a neutral one. The technical oscillators are suggesting more upside pressure though. The MACD is crossing above its trigger line in the negative territory, while the RSI is trying to jump above the neutral [..]

Market Comment – Stocks in the green, dollar stable as next batch of US data awaited

Posted on April 24, 2024 at 8:24 am GMT

Stocks feeling more positive following the US PMI miss Busy earnings calendar as focus remains on US data prints Dollar/yen remains a tad below 155 ahead of the BoJ meeting Aussie benefits from stronger CPI report Market wants more of the PMI surveys medicine The recent US data prints and particularly the mid-April inflation report has clearly alarmed the market of the possibility that the Fed could keep its rates unchanged in 2024. This is quite a shift considering that in January [..]

Technical Analysis – AUDUSD gears up after disappointing US PMIs

Posted on April 23, 2024 at 2:56 pm GMT

AUDUSD accelerates above 50-period SMA A new barrier under examination is at 0.6585 Technical risk skewed to the upside Australian CPI data due on Wednesday at 01:30 GMT AUDUSD spiked to 0.6479 in the wake of weaker-than-expected US S&P Global business PMI figures, surpassing its 50-period exponential moving average (EMA), which had been capping bullish actions over the past couple of hours. The 0.6485 constraining zone is currently under examination, and according to the technical indicators in the four-hour chart, the [..]

Can Australian CPI data lift the struggling aussie? – Preview

Posted on April 22, 2024 at 2:08 pm GMT

Inflation numbers will be investors’ focal point in Australia this week Doubts about RBA rate cuts have not been much support to the aussie Will Wednesday’s CPI data (01:30 GMT) alter the policy outlook? Is inflation levelling off? Worries about sticky inflation have been a major frustration for the Reserve Bank of Australia, prompting it to hike rates one more time back in November in an unexpected move. Still, the overall picture in 2023 was one of an unmistakably downward [..]

Week Ahead – US GDP and BoJ decision on top of next week’s agenda

Posted on April 19, 2024 at 7:10 am GMT

US GDP, core PCE and PMIs the next tests for the dollar Investors await BoJ for guidance about next rate hike EU and UK PMIs, as well as Australian CPIs also on tap Earnings season heats up as tech giants report Will US data throw more Fed rate cuts off the table? The dollar staged a strong recovery the last couple of weeks, with the bulls being encouraged to initiate long positions as soon as the US CPI data revealed [..]

Market continues to price in a plethora of rate cuts for 2024 – Special Report

Posted on April 17, 2024 at 1:03 pm GMT

Market is still in monetary easing mode despite fewer rate cuts priced in across the board Divergent cut expectations for the Fed and the ECB, reflecting economic conditions The ECB and the BoC are seen cutting in July; the RBA might not cut rates this year BoJ is seen hiking again during 2024 The market is digesting both the latest geopolitical developments and the recent rally in oil prices as the countdown to the May 1 Fed meeting has begun. [..]

Technical Analysis – AUDUSD breaks the lower bound of a sideways range

Posted on April 16, 2024 at 7:35 am GMT

AUDUSD extends slide after breaking lower bound of range MACD and RSI detect bearish momentum Break below 0.6390 could aim for 0.6335 Recovery above 0.6500 could signal return within range AUDUSD extended its tumble on Monday and during the Asian session Tuesday, falling below the key support barrier of 0.6455. On Friday, the pair broke below the lower end of a sideways range that was containing most of the price action since mid-January, and the dip below 0.6455 may have [..]

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