All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD bounces off critical level of 0.6485

Posted on March 5, 2024 at 12:22 pm GMT

AUDUSD fails to extend bearish move Technical oscillators are mixed AUDUSD rebounded off the 0.6485 support level once again, as it has been developing above this level since February 15. The technical oscillators are showing mixed signals. The RSI is pointing north below the neutral threshold of 50; however, the MACD is extending its negative momentum beneath its trigger and zero lines. Immediate resistance for more increases could come from the 20-period simple moving average (SMA) at 0.6506 in the [..]

Market Comment – Dollar awaits ISM services PMI, China sets dubious targets

Posted on March 5, 2024 at 9:33 am GMT

ISM non-mfg. PMI awaited ahead of Powell’s testimony and NFP Yen slide pauses after accelerating Tokyo CPIs Aussie and kiwi slip as China announces ambitious growth target Equities retreat ahead of key events, gold and bitcoin rally Dollar rebounds ahead of key data and events The US dollar rebounded somewhat against most of its major peers on Monday, although the fact that it lost decent ground against the euro and the pound kept the dollar index (DXY) lower. Today, the [..]

Market Comment – Stocks storm to fresh records on easing inflation

Posted on March 1, 2024 at 10:28 am GMT

Wall Street surges to all-time highs after in-line PCE inflation Dollar slips before bouncing back, yen gets knocked back by dovish Ueda Euro supported by upside surprises in CPI and manufacturing PMIs Equities cheer inflation data Shares on Wall Street ended the month at all-time highs on Thursday and are set to maintain the buoyant mood in March as a summer rate cut in the US looks more certain following a decline in the Fed’s preferred inflation gauge and some [..]

Technical Analysis – AUDUSD retreats after rejection at 200-day SMA

Posted on March 1, 2024 at 8:35 am GMT

AUDUSD was recovering from its lowest level since November But is on the retreat again as 200-day SMA repels advance Momentum indicators are tilted to the downside AUDUSD had been in a steady decline after peaking at 0.6870 in December, violating both its 50- and 200-day simple moving averages (SMAs). Although the pair managed to find its feet and rotate back above its descending trendline, it has been losing ground again following its repeated rejection at the 200-day SMA. Should the pair [..]

Market Comment – Kiwi plunges on RBNZ’s dovish turn, Wall Street consolidates

Posted on February 28, 2024 at 9:56 am GMT

Aussie and kiwi take a dive as Australian CPI, RBNZ ease rate hike fears China’s property troubles also weigh Wall Street and dollar await PCE data for direction RBNZ disappoints hawkish bets The Reserve Bank of New Zealand did not live up to the hawkish expectations that had been building up in the run up to today’s interest rate decision. Despite the recent hawkish commentary from Governor Orr and much speculation that the next move in the OCR is more [..]

Technical Analysis – AUDUSD drifts into Ichimoku cloud as rebound falters

Posted on February 27, 2024 at 4:00 pm GMT

AUDUSD is headed for the Ichimoku cloud in neutral shift Latest upswing can’t get past downtrend line Focus on 38.2% Fibo for support AUDUSD has been edging lower since last Thursday, forming lower highs in the 4-hour chart. The price rebounded off the 38.2% Fibonacci retracement of the February upleg but was capped by the short-term descending trendline. Subsequently, the pair is in the process of entering the Ichimoku cloud, signalling a neutral phase. The momentum indicators underscore the [..]

Market Comment – Dollar stays on the backfoot ahead of key data, yen enjoys CPI lift

Posted on February 27, 2024 at 10:25 am GMT

Traders await some key data releases, RBNZ decision amid quiet start to the week Yen broadly firmer after CPI beat, adds to dollar weakness as euro extends gains Equity rally loses some steam but Bitcoin surges Markets calm ahead of data flurry as dollar struggles The US dollar was headed for its seventh straight session of losses against a basket of currencies on Tuesday even as investors continued to scale back their rate cut expectations for the Fed. There’s been [..]

Chinese PMIs in the spotlight after Australian monthly CPI indicator; aussie to react – Preview

Posted on February 27, 2024 at 9:44 am GMT

Australia’s Monthly CPI indicator on Wednesday; could surprise on the upside Chinese PMI surveys on Friday Aussie’s outperformance against the US dollar depends on stronger data releases Market attention on US and Eurozone inflation This week is dominated by the US Core PCE price index on Thursday and Eurozone CPI on Friday, which might significantly impact the market’s short-term direction. Additionally, economic data from China and Australia will also be released. Chinese February PMI surveys will be reported on Thursday, and the Australian monthly CPI indicator for [..]

Week Ahead – US and Eurozone inflation, RBNZ meeting to test rate cut bets

Posted on February 23, 2024 at 11:07 am GMT

US core PCE and Eurozone flash CPIs to keep inflation worries in the foreground Japanese and Australian inflation numbers also coming up RBNZ might strike a hawkish tone Manufacturing PMIs also in the spotlight PCE inflation to headline busy US data week The Fed is in no rush to ease policy and markets are finally starting to come round to the prospect of no rate cuts before the summer. Yet, stock markets have remained bullish, suggesting that the fact alone [..]

Technical Analysis – AUDUSD challenges 200-day SMA

Posted on February 21, 2024 at 2:49 pm GMT

AUDUSD rebounds from its lowest level since November Price jumps above descending trendline to test 200-day SMA Momentum indicators improve but remain in negative zones AUDUSD had been in a constant decline after peaking at 0.6870 in December, breaking below both its 50- and 200-day simple moving averages (SMAs). Nevertheless, the pair managed to find its feet and rotate back above its descending trendline, currently attempting to claim the crucial 200-day SMA. Should the price break above the 200-day SMA, the [..]

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