All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD gets bearish vibes

Posted on March 28, 2024 at 9:05 am GMT

AUDUSD violates key support zone Bearish pressures could persist in short-term AUDUSD’s short-term upward pattern is under threat as it faces the risk of closing below the October support trendline at 0.6500, following another rejection near its exponential moving averages (EMAs). Technical indicators suggest the bears are in control as the RSI is decelerating below its 50 neutral mark and the MACD is weakening within the negative region. If the price stays below 0.6500, there is a possibility of it retesting [..]

Market Comment – Dollar eases from highs as intervention warning props up yen

Posted on March 25, 2024 at 10:22 am GMT

Intervention threat spurs mild rebound in yen after top currency official’s warning Yuan also rebounds, triggering broader retreat in US dollar Stock market rally cools amid quieter week before Easter break, core PCE eyed Yen firmer after fresh verbal intervention The Japanese yen edged higher on Monday, starting the holiday-shortened week on a steadier note, following a 3.5% slide on the back of the Bank of Japan’s dovish rate hike last week. Whilst the BoJ’s historic exit from negative rates [..]

Market Comment – Stocks at fresh records even as dollar bounces back

Posted on March 22, 2024 at 10:38 am GMT

Wall Street leads rally in equity markets, fuelled by rate cut optimism But US dollar stages surprise rebound amid US exceptionalism Pound slides on BoE’s dovish tilt, yen steadies, PBOC loosens grip on yuan Equities buoyed as easing expectations gather pace Shares on Wall Street are headed for strong weekly gains following the conclusion of the March central bank meetings that cemented rate cut expectations for 2024. After the European Central Bank paved the way for lower rates at the [..]

Technical Analysis – AUDUSD advances sharply in the FOMC aftermath

Posted on March 21, 2024 at 9:06 am GMT

AUDUSD was in a steady retreat since early March But finds feet and reclaims both SMAs after dovish FOMC Momentum indicators improve drastically AUDUSD had been losing ground since the beginning of March, dropping below its descending 50- and 200-day simple moving averages (SMAs). However, the pair managed to pause its retreat and reverse back higher with some help from the dovish FOMC signals on Wednesday. Should the advance resume, the price could initially test the March peak of 0.6666. Further upside [..]

Market Comment – BoJ hikes, scraps yield curve control, but yen slumps

Posted on March 19, 2024 at 10:08 am GMT

BoJ ends negative rates and yield curve control in historic move But yen can’t catch a break as Ueda signals ongoing accommodative stance Aussie also under pressure as RBA tones down tightening bias Dollar resumes climb before Fed comes into the limelight BoJ ditches most stimulus-era policies As had been widely speculated, the Bank of Japan announced an end to eight years of negative interest rates and sharply scaled back its asset purchases after its policy meeting on Tuesday, in [..]

Market Comment – Yen stays on the backfoot despite BoJ rate hike speculation

Posted on March 18, 2024 at 10:28 am GMT

Wage data drives up bets of BoJ rate hike on Tuesday but yen not convinced Weaker yen boosts Nikkei but inflation worries weigh on Wall Street ahead of Fed Dollar steady in calm start to a very busy week but oil unsettled by geopolitics All eyes on BoJ decision as yen slips Intensifying speculation about a potential historic rate hike by the Bank of Japan is dominating the start of the week where the Federal Reserve, as well as central [..]

Week Ahead – Five central banks: who will hike, who will not cut?

Posted on March 15, 2024 at 11:26 am GMT

Fed meets on Wednesday with focus on new dot plot Will the Bank of Japan finally end negative rates on Tuesday? BoE and RBA to stick with patience, SNB might be in more of a rush to cut Flash PMIs plus inflation data in the UK, Japan and Canada will also be crucial Fed decision: hoping for the best The upcoming week will undoubtedly be one of the busiest, not to mention the most important, of the year for investors [..]

RBA could maintain a degree of hawkishness – Preview

Posted on March 15, 2024 at 8:39 am GMT

RBA will meet on Tuesday, cash rate is expected to be kept unchanged Market wants a dovish show, but RBA could remain somewhat hawkish Aussie could benefit against the US dollar from a hawkish gathering Decision to be announced at 03.30 GMT, press conference one hour later The Reserve Bank of Australia meets on Tuesday The RBA kicks off next week’s busy central bank meetings’ schedule with its Tuesday gathering. Contrary to both the Fed and ECB being on the [..]

Technical Analysis – AUDUSD waits for direction after bullish break

Posted on March 14, 2024 at 9:40 am GMT

AUDUSD squeezed between key levels Traders indecisive ahead of US retail sales AUDUSD regained positive momentum and climbed above its exponential moving averages (EMAs) after breaking out of its 2024 bearich channel. But the 0.6620 region, which was a tough barrier in January, dented the upside forces following the flash spike to 0.6666. The technical indicators are sending mixed signals, though the nearby support area of 0.6600, which has been limiting downside movements, is preserving a ray of hope that the [..]

Technical Analysis – AUDUSD surges within critical levels

Posted on March 7, 2024 at 7:59 am GMT

AUDUSD rebounds off 0.6485 and surpasses downtrend line MACD and RSI indicate more upside pressure AUDUSD has been experiencing a new up leg over the last couple of days, surpassing above the short-term downtrend line and the flat 200-day simple moving average (SMA), meeting the 50-day SMA near the 0.6590 critical resistance. Technically, the MACD oscillator is standing above its trigger line in the bearish region, while the RSI is pointing upwards above the neutral threshold of 50. If the [..]

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