All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD lacks convincing drive to alter neutral state

Posted on June 10, 2021 at 8:24 am GMT

AUDUSD is consolidating now for three-months after the correction off the 0.8000 mark, and directional impetus is still absent. The entangled and relatively horizontal 50- and 100-day simple moving averages (SMAs) are reflecting the pair’s muted demeanour, while the 200-day SMA is defending the positive structure. The Ichimoku lines are not specifying any increase in directional momentum, while the short-term oscillators are also transmitting weak and mixed signals in sentiment. The MACD and its red trigger line are marginally holding [..]

US Open Note – Dollar struggles ahead of key data; BoC awaited

Posted on June 9, 2021 at 12:56 pm GMT

Dollar waiting for tomorrow’s US CPI data The US dollar is weaker somewhat today, and Treasury yields were lower as traders wait for the US inflation announcement on Thursday as it may affect the timeline for Federal Reserve discussions on tapering bond purchases and may be a key catalyst for the bond market. Dollar/yen is continuing its selling interest, hovering near 109.37, while the US dollar index is experiencing some losses as well. S&P 500 and Nasdaq futures are signaling a positive open; however, Dow Jones futures are suggesting a negative open. Euro and pound take some positive steps The [..]

Technical Analysis – AUDUSD echoes neutral tone as price fuses between MAs

Posted on June 9, 2021 at 5:15 am GMT

AUDUSD is currently around the mid-Bollinger band and price action has become constricted to the vicinity of the static simple moving averages (SMAs). The SMAs are now endorsing a horizontal market. Moreover, the short-term oscillators are transmitting mixed signals in directional momentum. The MACD, in the positive zone, is slightly below its floating red trigger line, while the RSI is fighting to remain north of the 50 threshold. The bullish stochastic oscillator is mirroring an increase in strength in the [..]

US Open Note – Risky currencies cheer on dollar weakness as stocks ease

Posted on June 7, 2021 at 12:54 pm GMT

Dollar fails to move up again after disappointing NFP The eagerly awaited NFP release for May on Friday was better than April’s figure, however, it disappointed investors. The unemployment rate fell to 5.8% but the greenback finished the day sharply lower. Today, dollar/yen is continuing the selling interest with weaker momentum, trading near 109.40, while the US dollar index is recovering some losses. US stock futures were slightly on the downside after a positive day on Friday. In Washington, the two main parties are sticking to their different approaches on [..]

Daily Market Comment – Dollar left reeling after soft NFP; stocks mixed as US CPI around the corner

Posted on June 7, 2021 at 9:03 am GMT

US jobs report disappoints again, sending gains in US dollar and yields into reverse Wall Street buoyed by goldilocks recovery but cautious start to week as US CPI eyed Aussie wipes out losses but euro treads water ahead of ECB meeting NFP miss allays early Fed taper fears It was another disappointing Jobs Friday as predictions for May nonfarm payrolls were again off the mark. Payrolls rose by 559k against estimates of 650k – not as huge a miss as [..]

A booming economy, soaring commodity prices, so why is the aussie not rallying? – Special Report

Posted on June 3, 2021 at 12:08 pm GMT

The Australian dollar made a spectacular rebound from the March 2020 nosedive against the US dollar. But although Australia’s economic recovery has gone from strength to strength, the rally has stalled since March this year. There are a number of factors that could be dampening the positive mood music, negating some of the boost from higher commodity prices. But the real driving force behind the aussie’s sideways action of late is the flatter yield spread between Australian and US government [..]

Technical Analysis – AUDUSD retains neutral bias for more than 3 months

Posted on June 3, 2021 at 6:24 am GMT

AUDUSD has been moving within a horizontal trajectory over the last three months, remaining near the 20- and 40-day simple moving averages (SMAs). However, the 200-day SMA is still moving higher, approaching the current market price. The RSI, around the 50 neutral level, is heading south, while the MACD oscillator is failing to strengthen its movement, holding near the zero level in the short-term. Should prices decline further, an immediate level could be found around 0.7570, an area which has provided crucial [..]

Daily Market Comment – Dollar struggles ahead of key data, OPEC decision coming up

Posted on June 1, 2021 at 8:22 am GMT

· Dollar drops in thin trading, turns gaze to ISM data and Fed speeches · OPEC meeting unlikely to roil markets, but Iranian negotiations might · Aussie unscathed by RBA, gold continues to rampage Greenback trades heavy The US dollar was the main mover in an otherwise quiet session on Monday, with American and British traders away on public holidays. There doesn’t seem to be an end to the dollar’s suffering. Inflation is heating up and yet the Fed remains [..]

US Open Note – Dollar negative as European stocks end May with a gain; RBA policy meeting in focus

Posted on May 31, 2021 at 1:43 pm GMT

Inflation fears, tightening speculation stretch into the summer Markets were in a wait-and-see mode as the final day of May found the US and UK closed for holidays and monthly trading arrangements already settled. Investors will closely monitor economic data during the summer months for clues on whether the advance in inflation is something more than temporary and how long the Fed could stand pat on tapering calls without damaging the dollar. A handful of central banks have already opened [..]

Technical Analysis – AUDUSD heads up in downside correction mode

Posted on May 31, 2021 at 11:47 am GMT

AUDUSD found strong support at the 0.7677 barrier, driving the market within both the short- and long-term timeframes in the 4-hour chart. The RSI is standing marginally beneath the neutral threshold of 50, while the MACD surpassed its trigger line in the negative territory. In trend indicators, the Ichimoku cloud is acting as a powerful resistance, however, the Ichimoku lines are flattening. Any upside pressures above the SMAs and the 0.7755 level, and the market could open the door for [..]

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