All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD extends uptrend to 34-month high

Posted on January 7, 2021 at 8:00 am GMT

AUDUSD has been in a strong bullish rally since March 2020, sending the price to a new 34-month high of 0.7827 on Wednesday. The MACD oscillator is extending its upside move above its trigger line in the positive region, however, the RSI is turning south in the overbought area, suggesting a downside pullback in the price. An advance above the multi-month high of 0.7827 could send the pair towards the 0.7923 resistance, taken from the peak on March 2018. Clearing this region, the high from January [..]

Technical Analysis – AUDUSD in recovery mode, but some caution grows

Posted on January 5, 2021 at 12:46 pm GMT

AUDUSD is recouping the short downfall from the new 32-month high of 0.7739 in the four-hour chart after creating a bullish doji around the 0.7654 support region. Despite the rebound, however, the red Tenka-sen line has yet to resume a positive slope, while the RSI seems to be easing momentum following the bounce on the 50 neutral mark. The MACD is also providing some cautious positive signals as the indicator has paused its decline, but at the same time seems [..]

Daily Market Comment – Fresh virus fears dampen New Year optimism, dollar catches a bid

Posted on January 5, 2021 at 9:52 am GMT

UK enters third lockdown, sparks panic as virus continues to rage around the world Pound tumbles, dollar reverses earlier declines, Wall Street slips from record highs Uncertainty about Georgia runoffs adds to soured mood No respite from the virus just yet As vaccine rollouts get off to a slow start, mass inoculation is becoming a race against time as there appears to be no letup in Covid-19’s ferocious spread. British Prime Minister Boris Johnson announced a new national lockdown for [..]

Daily Market Comment – Familiar start to new year as dollar slips, stocks climb

Posted on January 4, 2021 at 9:51 am GMT

Trading in 2021 gets off to an optimistic start despite spiralling pandemic Dollar heads back towards 2½-year lows, bullish case for equities not over But plenty that can go wrong as Georgia runoffs, Electoral College count pose risks Cheery start to 2021 as markets pin hopes on vaccines The first trading day of the new year began pretty much how 2020 ended as investors chose to shrug off the worrying virus headlines to instead focus on the vaccine rollouts and [..]

Daily Market Comment – Global markets set to end chaotic 2020 on optimistic note

Posted on December 31, 2020 at 9:22 am GMT

As a year of absolute chaos concludes, investors look ahead into a calmer 2021 Dollar nurses recent losses, stocks retreat a shade from record highs Aussie and kiwi capitalize on softer dollar and cheerful mood, power higher Gold approaches upper end of recent trading range as real yields drop Happy end to a wild year There is a feeling of sanguinity coursing through global markets as a year of absolute chaos finally draws to an end. Most stock markets suffered [..]

Technical Analysis – AUDUSD bids goodbye to 2020 at fresh highs; retains bullish bias

Posted on December 31, 2020 at 8:58 am GMT

AUDUSD is on the top list of the best performing pairs for 2020 despite the unforeseen Covid-19 dramatic economic impact, rallying 9.76% on a yearly basis to a fresh 2 ½-year high of 0.7707 in the last trading session of the year. From a technical perspective, the short-term bias remains on the positive side as the price continues to build its uptrend comfortably above its upward-sloping simple moving averages (SMA) and the Ichimoku cloud. Moreover, the red Tenkan-sen line keeps [..]

Daily Market Comment – Dollar can’t get off the floor as focus turns to Georgia

Posted on December 30, 2020 at 9:40 am GMT

Dollar hits fresh lows, stocks near record highs despite US Senate blocking $2000 checks Thin liquidity, or markets calculating what this implies for Georgia runoffs? Elsewhere, most assets are in a cheerful mood, but quiet overall 2020 was all about the stimulus game With the Brexit crusade out of the way, the US stimulus deal wrapped up, and the global vaccine rollout well underway, financial markets are about to end an incredibly chaotic year on a surprisingly optimistic note. The [..]

Daily Market Comment – Trading starts to wind down, stocks at record highs, dollar dips

Posted on December 29, 2020 at 9:50 am GMT

Markets go quiet in thin holiday trading after US stimulus and Brexit hurdles cleared Pressure on the US Senate after House votes to increase stimulus checks Wall Street sets another record, Nikkei soars, London stocks play catch up Dollar on the backfoot again after rebound falters, pound pares losses Markets in holiday calm but stimulus drama may not be over Trading dwindled ahead of the New Year holiday amid thin liquidity as there was little reason for investors to stay [..]

Technical Analysis – AUDUSD recoups lost ground; resumption of uptrend in focus

Posted on December 28, 2020 at 10:27 am GMT

AUDUSD has almost recouped the downfall from the 2 ½-year high of 0.7638 despite the narrow trading the past two days in the four-hour chart. Although some weakness could be possible in the near term given the touch around the upper Bollinger band, market sentiment remains largely positive as the RSI holds comfortably above its 50 neutral mark despite the latest pullback, and the MACD continues to strengthen within the bullish territory and above its red signal line. The Ichimoku [..]

Daily Market Comment – Stocks cheer Trump’s stimulus U-turn; pound muted after ‘thin’ Brexit deal

Posted on December 28, 2020 at 9:40 am GMT

President Trump makes surprise U-turn on virus aid bill, averts government shutdown ‘Thin’ Brexit deal leaves many unanswered questions, pound unimpressed Equities buoyed, dollar pressured, gold jumps Relief as US stimulus and spending bill becomes law Trading for the last week of 2020 got off to a bullish start after President Trump unexpectedly signed into law the Covid-19 relief and funding bill late on Sunday after repeatedly refusing to do so. The $2.3 trillion package, which includes a fresh round [..]

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