All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD consolidates under 100-MA, tilting picture bearish

Posted on October 26, 2020 at 2:59 pm GMT

AUDUSD is creeping sideways in the Ichimoku cloud after the 100-period simple moving average (SMA) capped advances off the 0.7020 mark. The gradual downward sloping SMAs are upholding a bearish tone, while the flattening Ichimoku lines are nudging the price closer to the descending trend line. The short-term oscillators are conveying conflicting signals in directional momentum. The MACD is hovering below its red signal line in the positive region, while the RSI is diminishing towards its 50 threshold. Yet, the [..]

Daily Market Comment – Investors play defense as global cases surge, US election tightens

Posted on October 26, 2020 at 9:15 am GMT

Markets on red alert as US infections hit grim records, Europe adopts new measures Meanwhile, election polls have tightened – ‘Blue wave’ no longer as certain Global stocks retreat, oil hammered, dollar inches higher Big week ahead: three central bank meetings, key GDP data, tech earnings Global cases soar, investors cut risk exposure Market participants are playing some defense on Monday, slashing their exposure to riskier assets like stocks and rotating into the safety of sovereign bonds, amid a blitz [..]

Daily Market Comment – Markets drift sideways as US stimulus deal awaited

Posted on October 23, 2020 at 9:21 am GMT

US stimulus deal edges closer as talks continue, investors hold tight No clear winner from final presidential debate; uncertainty adds some support to dollar Euro bounces from lows as strong manufacturing shores up flagging Eurozone recovery No deal yet but high hopes for more stimulus Markets remain fixated on the stimulus talks in Washington as the week draws to a close, with the window for a deal to be struck before the November 3 election closing fast. Positive signals about [..]

Technical Analysis – AUDUSD creates bearish correction near 0.71 in short-term

Posted on October 22, 2020 at 6:40 am GMT

AUDUSD is looking slightly bearish around 0.7100 in the short-term, after the pair pulled back off the two-year peak of 0.7413 on September 1. The RSI is turning lower in the negative territory, while the MACD is moving sideways below the zero level. Both are confirming the recent bearish correction of the long-term bullish picture. In light of negative pressures, initial tough support could develop from the zone of the 0.7000 round number and the 23.6% Fibonacci retracement level of [..]

Daily Market Comment – Stimulus uncertainty hits sentiment; RBA flags more easing

Posted on October 20, 2020 at 9:05 am GMT

US stimulus talks make progress but short time window spooks investors Aussie slips as RBA gives clearest indication yet it will ease policy soon Pound steady despite endless brinkmanship in Brexit talks Stimulus deal getting closer but may come too late Talks in the United States on a new round of fiscal stimulus remains very much the focus for investors as time is fast running out for a pre-election spending bonanza. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin [..]

Technical Analysis – AUDUSD barely recovers; looks to develop sideways

Posted on October 19, 2020 at 1:19 pm GMT

AUDUSD has adopted a positive trajectory, improving slightly after pivoting at the 0.7055 low. The rising red Tenkan-sen line and the strengthening technical indicators endorse additional positive price action. Yet, the weakened slopes of the simple moving averages (SMAs) and their converging bearings are sponsoring an evolving horizontal picture. The short-term oscillators reflect a slight increase in positive momentum. The MACD, some distance below zero, is rising above its red trigger line, while the RSI is struggling to reach the [..]

Week Ahead – Flash PMIs could underscore worsening virus trend; US election polls in focus

Posted on October 16, 2020 at 12:36 pm GMT

The virus reality has come back to bite markets just as investors were attempting once again to shrug off the gloom and doom. The daily frequency of tighter Covid restrictions being announced across Europe and dimming expectations of a pre-election stimulus deal by US lawmakers has put a dampener on risk sentiment over the past few days. Uncertainty about the US election and Brexit are adding to the market anxiety. With none of these outstanding issues expected to be resolved [..]

Daily Market Comment – Wall Street storms back, but currencies don’t play along

Posted on October 16, 2020 at 8:30 am GMT

US stocks trim losses, close almost unchanged as Trump hints at higher stimulus offer Yet, the currency arena doesn’t get the memo – dollar holds onto gains Most likely just a reflection of euro and sterling weakness Coming up: US retail sales today, New Zealand election over the weekend Equity and currency markets dance to different tunes Global markets are torn between conflicting narratives, with fears around new virus restrictions in Europe that could cripple the recovery being mostly neutralized [..]

Daily Market Comment – Sentiment sours as stimulus talks stall, virus cases surge

Posted on October 15, 2020 at 8:05 am GMT

Stocks retreat, dollar goes nowhere as Mnuchin plays down pre-election stimulus European covid cases go through the roof, but euro stands its ground UK signals it won’t abandon Brexit talks this week, pound jumps Aussie slides after RBA Governor fuels speculation for rate cut Stimulus talks stall, markets fall Global equity markets continue to correct lower, with the major US indices sliding yesterday and Asian bourses being a sea of red on Thursday, as the chances of a US relief [..]

Technical Analysis – AUDUSD tests 100-day SMA; neutral bias governs

Posted on October 15, 2020 at 7:58 am GMT

AUDUSD appears fixed, cramped between its 50- and 100-day simple moving averages (SMAs) and is adopting a short-term sideways demeanour. The steadied Ichimoku lines and the regulating 50- and 100-day SMAs back this view and may keep the price bound in a neutral phase for a while longer. The MACD, slightly below zero, is above its red signal line opposing negative momentum but looks set to dip back under it. The stochastic oscillator maintains a strong negative bearing, while the [..]

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