All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD hovers around 200-day SMA after decline halts

Posted on January 26, 2024 at 9:06 am GMT

AUDUSD pauses short-term retreat at December low Double bottom pattern triggers a rebound, but 200-SMA holds strong Momentum indicators remain heavily tilted to the downside AUDUSD experienced a vast selloff following its December peak of 0.6870, breaking below both its 50- and 200-day simple moving averages (SMAs). Although the pair managed to halt its retreat at the double bottom of 0.6524, its rebound has been repeatedly held down by the 200-day SMA. Given that both the RSI and stochastics are providing [..]

Market Comment – Dollar pulls back, Yen stages another recovery

Posted on January 24, 2024 at 9:46 am GMT

Dollar retreats as Bullard talks March rate cut Yen recovers again on BoJ hike speculation BoC to keep interest rates untouched Risk appetite remains supported, S&P 500 hits new record Bullard says Fed could cut rates as soon as March The US dollar traded higher against most of the major currencies on Tuesday, losing some ground only against the risk-linked aussie, kiwi and loonie. That said, the greenback is on the back foot today, perhaps due to remarks by former [..]

Technical Analysis – AUDUSD recovers, but remains below prior uptrend line

Posted on January 23, 2024 at 1:46 pm GMT

AUDUSD recovers after hitting 0.6525 But the bulls struggle below key resistance crossroads This increases the chances for another strike by the bears AUDUSD entered a recovery mode after it hit support near the key zone of 0.6525. However, the bulls seem to be struggling to overcome the 0.6615 level and the 50-period EMA, with the pair staying below the prior uptrend line drawn from the low of October 26, and below a short-term term downside resistance line taken from [..]

Market Comment – Yen rebounds as Ueda hints at policy shift

Posted on January 23, 2024 at 9:19 am GMT

BoJ stands pat as expected, lowers core CPI projection But yen rebounds on Ueda’s relatively hawkish remarks Risk sentiment improves on China’s stimulus plan S&P 500 and Dow Jones hit fresh record highs BoJ’s Ueda brings yen to life The yen was the protagonist on Tuesday, coming under some selling interest after the BoJ kept its ultra-loose policy unchanged as expected and lowered its forecasts for core inflation for the fiscal year beginning in April to 2.4% from 2.8% projected [..]

Market Comment – Tech stocks rally on AI boom even as yields rise, dollar steady

Posted on January 19, 2024 at 10:26 am GMT

Apple and semiconductors push Nasdaq 100 to new record high But Fed repricing limits gains outside of tech as yields edge up Dollar holds firm, pound slips on data, yen propped up by verbal intervention AI optimism spurs tech rally AI mania made a comeback on Thursday as optimism about a recovery in AI-related demand as well as the broader tech sector boosted equity markets. Apple and TSMC were the main catalysts for yesterday’s rally, ending a two-day rout on [..]

Technical Analysis – AUDUSD edges higher after 2-month low

Posted on January 18, 2024 at 8:34 am GMT

AUDUSD remains beneath uptrend line and 200-day SMA Bearish wave on the cards RSI and stochastic suggest upside recovery AUDUSD is recouping some losses today after the aggressive sell-off of the preceding three days, posting a new two-month low near 0.6520. The pair slipped beneath the medium-term ascending trend line and the 200-day simple moving average (SMA), shifting the outlook to bearish. However, the technical oscillators are showing some signs of recovery. The RSI is ticking upwards in the bearish [..]

Technical Analysis – AUDUSD tumbles to test near-term uptrend line

Posted on January 16, 2024 at 2:33 pm GMT

AUDUSD falls sharply but stops near uptrend line A break below 0.6570 could paint a darker picture Confidence for uptrend continuation may come above 0.6730 AUDUSD tumbled today, extending the retreat it started on December 28, after testing the 0.6870 level. That said, the bears seem to be taking a breather near the 200-day exponential moving average (EMA) and the uptrend line drawn from the low of October 26. Although the MACD has yet to obtain a negative sign, it [..]

Australian employment report in focus as aussie dives – Preview

Posted on January 16, 2024 at 12:53 pm GMT

Australia to add fewer jobs than before Unemployment rate to remain unchanged Aussie plummets ahead of the release on Thursday at 00:30 GMT Data on employment continues to be relatively reliable. In most months, the increase in the labor force is bigger than the rise in unemployment. This is helping to keep the unemployment rate under control, which is currently relatively low at 3.9% but is nevertheless increasing. Even though retail sales have fallen by approximately 2% y/y, they appear [..]

Market Comment – Mood sours as ECB pushes back on rate cuts; will Fed follow suit?

Posted on January 16, 2024 at 10:24 am GMT

Euro skids even as ECB officials dampen early rate cut expectations Dollar jumps on fears Fed’s Waller will take a similarly hawkish stance Pound and aussie tumble on soft data Oil and gold pulled in different directions in choppy trade Rate cut bets pared back after ECB intervention Dovish expectations for the major central banks suffered a setback on Tuesday after ECB Governing Council member Robert Holzmann cast doubt on the prospect of any rate cuts in 2024. Speaking at [..]

Technical Analysis – AUDUSD slips to 1-month low

Posted on January 16, 2024 at 9:32 am GMT

AUDUSD posts a new negative wave RSI looks oversold 50- and 200-period SMAs ready for bearish cross AUDUSD is plunging towards a fresh one-month low of 0.6606 today, confirming the negative structure that started from 0.6870. Technically, the short-term risk is leaning to the downside. The MACD oscillator is extending its negative momentum beneath its trigger line in the bearish territory; however, the RSI is holding beneath the 30 level but is ticking marginally up, suggesting that the latest spike in the price [..]

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