All Articles Tagged - AUDUSD

Week Ahead – BoE takes the central bank torch, US CPI data also in focus

Posted on May 5, 2023 at 11:05 am GMT

Following the FOMC and ECB decisions last week, the central bank torch will now be passed to the BoE, which will deliver its decision on Thursday. A 25bps hike is mostly priced in, so the spotlight will fall on clues and hints on how officials are planning to move forward. The US CPIs will also attract special attention as investors are trying to figure out whether the Fed will pause or hike once more in June. Will the BoE hint [..]

Technical Analysis – AUDUSD enjoys RBA’s boost but risks remain

Posted on May 2, 2023 at 12:32 pm GMT

AUDUSD cheered up after a surprise 25bps rate hike from the Reserve Bank of Australia (RBA), rising to an almost two-week high of 0.6716 in the aftermath. The pair pivoted northwards after forming a hammer candlestick near its March low of 0.6563, though some caution is still warranted, as January’s tentative resistance trendline is within breathing distance at 0.6725. The 200-day simple moving average (SMA) and the 38.2% Fibonacci of the 0.7660-0.6169 downleg are adding extra importance to the region. If the [..]

Daily Market Comment – Surprise rate hike boosts Australian dollar, yen hits 15-year lows

Posted on May 2, 2023 at 8:59 am GMT

Yen sinks to 15-year low against euro, decimated by central bank divergence Reserve Bank of Australia surprises with rate increase, lifting local dollar All eyes on Eurozone inflation today, size of ECB rate hike hangs in balance Yen gets scorched The Japanese yen has taken heavy damage lately, hitting a fresh 15-year low against the euro this week. Momentum in euro/yen has been quite impressive, with the pair breaching the 150 psychological region with some force to extend the incredible [..]

Week Ahead – Fed and ECB decisions set the stage for US payrolls

Posted on April 28, 2023 at 10:59 am GMT

An explosive week lies ahead for global markets, featuring central bank decisions in the United States, Eurozone, and Australia, alongside the latest edition of nonfarm payrolls. The Fed is expected to raise interest rates one final time, so the dollar will react mostly to any signals around future action. But the euro might enjoy even greater volatility, as traders are split on the size of the upcoming ECB rate increase. Fed to play its final card The US economic machine [..]

Technical Analysis – AUDUSD stands below the upward sloping channel

Posted on April 27, 2023 at 12:56 pm GMT

AUDUSD lost some ground in the preceding sessions, falling beneath the short-term upward sloping channel and the simple moving averages (SMAs). Currently, the price is trying to recoup some losses and is testing the 0.6625 key level. The RSI is pointing marginally up below the 50 level; however, the MACD is holding beneath its trigger and zero lines. More losses could open the way for a retest of the 0.6560 support and steeper decreases may drive the bears until the [..]

Technical Analysis – AUDUSD set for third bearish monthly close

Posted on April 27, 2023 at 7:48 am GMT

AUDUSD is set for its third negative monthly close after failing to pierce through the 0.6800 level. The focus is currently on the March low of 0.6563 as the short-term outlook is looking blurry. The pair could not successfully climb above its 200-day simple moving average (SMA), with the 38.2% Fibonacci retracement level of the April-October 2022 downtrend triggering this week’s downfall to 0.6590. Notably, the 50-day SMA crossed back below the 200-day SMA, diminishing hopes for an uptrend resumption. [..]

Technical Analysis – AUDUSD slips notably below 200-period SMA

Posted on April 25, 2023 at 9:25 am GMT

AUDUSD has come under renewed selling pressure, falling back below its 200-period simple moving average (SMA). Despite the latest pullback though, the pair has not posted a fresh lower low, which makes one hesitant to trust further declines for now. Looking at momentum oscillators on the 4-hour chart, they suggest further declines may be on the cards in the short term. The RSI is below its neutral 50 line, detecting negative momentum, and is also pointing downwards. The MACD, already [..]

Week Ahead – Spotlight on BoJ’s Ueda as first meeting looms; US and Eurozone data eyed too

Posted on April 21, 2023 at 9:34 am GMT

The Bank of Japan will hold its first policy meeting under the stewardship of Kazuo Ueda next week, although it’s looking unlikely that he will kick things off with a bang. The focus may therefore quickly shift to GDP numbers out of the United States and Eurozone where both economies are expected to have dodged a recession, while the all-important PCE inflation report will be one of the final pieces of the rate puzzle before the Fed’s May decision. Ueda [..]

Technical Analysis – AUDUSD extends sideways move amid diverging signals

Posted on April 20, 2023 at 8:17 am GMT

AUDUSD had been trending lower within a downward sloping channel after peaking at 0.7157 in early February. Although the pair managed to break above this bearish pattern, it has been directionless since then, with the recent completion of a death cross between the 50-day simple moving average (SMA) and the 200-day SMA inducing negative pressures. However, the short-term oscillators are cautiously tilting towards the positive side. The RSI is holding slightly above its 50-neutral mark, while the MACD histogram is battling with the zero mark [..]

Technical Analysis – AUDUSD in a very gentle upward move; who will blink first?

Posted on April 18, 2023 at 1:10 pm GMT

AUDUSD is trying to find its direction with the 0.6797 level acting as a ceiling at this juncture. This pair has actually been moving very gently inside an upward trending channel since the March 10, 2023 low of 0.6563. Considering the overall AUDUSD price action since mid-January 2023, this channel tends to favour downside breaks. This range-trading activity is confirmed by the subdued Average Directional Movement Index (ADX) and the balanced stochastic oscillator. The former has dipped below its 25-threshold [..]

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