All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD turns higher; ready to test key trendline

Posted on February 20, 2024 at 9:06 am GMT

AUDUSD hovers slightly below the falling trend line Momentum indicators are not extremely excited by the current upside move AUDUSD is moving higher again today after bouncing off the June 20-period simple moving average (SMA) at 0.6520 in the 4-hour chart. In the meantime, the momentum indicators are somewhat supportive of this up leg. The RSI is pointing up a tad above its 50-midpoint, while the MACD oscillator is standing above the zero level, although it has dropped beneath its [..]

Market Comment – Dollar in wait and see mode, kiwi extends gains

Posted on February 20, 2024 at 9:02 am GMT

Dollar trades mixed as traders await tomorrow’s Fed minutes Kiwi extends gains on bets that the RBNZ could hike again Aussie remains unimpressed by hawkish RBA minutes China announces biggest ever cut in 5-year LPR Fed minutes the next test for the dollar The US dollar traded mixed against the other major currencies on Monday as US markets remained closed in observance of President’s Day. The greenback gained some ground against the pound, the franc and the loonie, while it [..]

Technical Analysis – AUDUSD rises beyond descending trend line

Posted on February 16, 2024 at 11:53 am GMT

AUDUSD finds strong resistance at 0.6540 MACD shows optimism for more bullish actions AUDUSD is overcoming the short-term falling trend line after the significant rebound off the 0.6440 support level. The MACD oscillator is surpassing its trigger line in the negative region, while the RSI is flattening beneath the neutral threshold of 50. Immediate resistance could come from the 0.6540 barricade, which coincides with the 20-day simple moving average (SMA) ahead of the 200-day SMA at 0.6560. Clearing these lines, [..]

Technical Analysis – AUDUSD rises from 0.6440 bottom

Posted on February 15, 2024 at 8:23 am GMT

AUDUSD still holds below the downtrend line But MACD and RSI suggest bullish correction AUDUSD has been over performing over the last two sessions after the rebound off the 0.6440 support level. However, the market remains beneath the short-term descending trend line, which has been drawn after the price peaked at 0.6870. Technically, the MACD oscillator is crossing to the upside of its trigger line in the negative territory, while the RSI, following the strong bounce off the 30 level, is currently moving horizontally below [..]

What is next for commodity-linked currencies? – Special Report

Posted on February 13, 2024 at 4:24 pm GMT

Risk linked currencies lose correlation to S&P 500 Dollar outperforms all as Fed implied rate path rises BoC abandons tightening bias, but RBA and RBNZ stay hawkish China impacts aussie and kiwi, loonie linked to oil prices Surrendering to the greenback’s dominance Just before the turn of the year, the risk-linked currencies – the Australian dollar, the New Zealand dollar, and the Canadian dollar – also known as the commodity-linked currencies, have come under selling pressure despite risk appetite remaining [..]

Will the Australian jobs report drive the aussie higher? – Preview

Posted on February 13, 2024 at 12:12 pm GMT

Forecasts point to higher unemployment rate Upside surprise is likely, as employment change expected to rise Aussie remains steady before the release on Thursday at 00:30 GMT Aussie heads lower ahead of jobs data Despite the Reserve Bank of Australia being one of the last to lower rates in 2024, the Australian currency has struggled. An improving labour market may help the aussie. Employment decreased in December, surprising markets. However, Thursday’s jobs data should be encouraging as the Australian economy [..]

Week Ahead – US CPI in the spotlight as dovish Fed bets fade

Posted on February 9, 2024 at 11:07 am GMT

All eyes on US CPI on Tuesday after run of strong data Retail sales on the agenda too for the US dollar Pound on standby for UK data flurry, including CPI and GDP Japanese GDP and Australian employment coming up too Will US CPI remain sticky? Inflation in the United States has generally been trending lower but the progress to get it all the way down to 2% has stalled in recent months, at least according to the CPI metric. [..]

Technical Analysis – AUDUSD bounces off 2024 low

Posted on February 8, 2024 at 8:37 am GMT

AUDUSD hits its lowest level since mid-November Although decline halts, rebound looks unconvincing Momentum indicators remain tilted to the downside AUDUSD has been in a constant decline after peaking at 0.6870 in December, breaking below both its 50- and 200-day simple moving averages (SMAs). This week, the price fell to a fresh two-month bottom of 0.6467 before recouping some losses, while the short-term oscillators still suggest that bearish forces are holding the upper hand. Should bearish pressures persist, the price could revisit [..]

Market Comment – Dollar pulls back, kiwi and aussie the main gainers

Posted on February 7, 2024 at 9:18 am GMT

Dollar slides, but uptrend remains intact Kiwi gains on China news and New Zealand jobs data Aussie also higher as RBA maintains tightening bias Wall Street trades in the green, gold rebounds US dollar corrects lower as traders secure profit The US dollar pulled back against all its major counterparts on Tuesday, with the main gainers being the kiwi, the aussie, the pound and the yen in that order. With no fundamental catalyst to drive the greenback lower, its pullback [..]

What now for the US dollar after rate cut delay? – Special Report

Posted on February 6, 2024 at 4:40 pm GMT

US dollar re-energized as strong data, hawkish Fed dent early rate cut bets American economy still churning out new jobs, shows no signs of cracks Will hot economy scupper the Fed’s plan to ease policy this year? From recession fears to overheating risk The US dollar may have ended 2023 on a bearish note as rate cut speculation reached fever pitch, but that has certainly not set the tone for 2024. In fact, the greenback rallied in the first week [..]

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