All Articles Tagged - AUDUSD

Daily Market Comment – Dollar slips, stocks climb after disappointing US data

Posted on April 4, 2023 at 8:51 am GMT

Contraction in US manufacturing emboldens bets for Fed cuts Dollar slides, stock markets rally with boost from energy shares RBA hits ‘stop’ button on rates, RBNZ decision coming up next Manufacturing woes Global markets are torn between different themes, with traders switching back and forth between inflation and recession risks depending on the latest round of data releases. The week started with the ghost of inflation returning to haunt investors after OPEC+ boosted oil prices, but the session closed with [..]

Technical Analysis – AUDUSD bulls face big challenge around 200-day SMA

Posted on April 3, 2023 at 1:33 pm GMT

AUDUSD is posting an impressive bullish rally today, flirting with the 200-day simple moving average (SMA) and the 0.6760 resistance level. In the very short-term timeframe, the pair is holding within an upward sloping channel, while a break above it would suggest an upside reversal. The MACD oscillator is extending its positive movement above its trigger line in the negative region, while the RSI is sloping north, crossing above the 50 level. Any attempts higher could open the way for [..]

Weekly Technical Analysis – EURUSD, AUDUSD, NZDUSD

Posted on April 3, 2023 at 9:42 am GMT

The focus this week will be on the US nonfarm payrolls report, where further improvement could dampen expectations that the Fed would soon begin cutting interest rates, thereby aiding the dollar’s recovery. The central banks of Australia and New Zealand are expected to take different approaches. US Non-farm payrolls → EURUSD In March, nonfarm payrolls are anticipated to increase 238k from 311k before, while the unemployment rate is anticipated to remain stable at 3.6%, near multi-decade lows. EURUSD is turning slightly higher after a negative open today, holding above 1.0800. RBA decision → AUDUSD [..]

RBA will likely hold rates, but a hawkish pause might still save the aussie – Forex News Preview

Posted on March 31, 2023 at 11:17 am GMT

The Reserve Bank of Australia meets on Tuesday to set interest rates and is expected to announce its decision at 4:30 GMT. Investors are anticipating that the central bank will bring to a halt its run of 10 straight meetings of rate increases as inflation finally appears to have peaked and economic growth has lost some momentum lately. A pause would be negative for the Australian dollar, but much will depend on whether the RBA maintains a tightening bias. No [..]

Week Ahead – Nonfarm payrolls to set the tone for US dollar

Posted on March 31, 2023 at 11:02 am GMT

With the banking turmoil receding, market participants will turn their attention back to economic releases. The spotlight will fall on the US employment report, where another strong reading could temper speculation that the Fed will start cutting rates soon, helping the wounded dollar to recover. Meanwhile in Australia and New Zealand, central banks are expected to take different paths. Fed on collision course It’s been a wild month for global markets, marked by bank failures and financial instability. The main [..]

Daily Market Comment – Stocks headed for quarterly gains despite turmoil, dollar set for losses

Posted on March 31, 2023 at 9:26 am GMT

Equities to end week and quarter in buoyant mood as tech-led rebound gathers pace Fed speakers keep rate hike door wide open, dollar firms but still down in Q1 Tokyo CPI beat unable to halt yen’s slide, US and Eurozone inflation coming up next Stocks shrug off banking mess as turbulent quarter closes Equity markets may have taken a strong knock from the banking crisis, which sprung out of the blue earlier this month, but the speed at which they [..]

Technical Analysis – AUDUSD could see further strength above 200-day SMA

Posted on March 30, 2023 at 7:16 am GMT

AUDUSD is moving above the 20-day simple moving average (SMA) and the 50.0% Fibonacci retracement level of the upward wave from 0.6170 to 0.7160 at 0.6660; however, the 200-day SMA around the 0.6760 resistance is acting as a crucial resistance level. The market has been heading sideways over the last couple of weeks, with the technical oscillators suggesting that an upside retracement may be on the cards. The MACD is holding above its trigger line in the negative territory, while the RSI is [..]

Daily Market Comment – Weaker yen gives dollar a lift as stocks climb on easing banking fears

Posted on March 29, 2023 at 9:03 am GMT

Stocks extend gains as banking turmoil continues to subside Dollar catches up with firmer Treasury yields, yen tumbles Oil rises to 2-week high on improving tone and on Iraq supply concerns Stocks resume rebound after Wall Street stumbles Global equity markets got off to a positive start on Wednesday, resuming a patchy rebound from the lows of the banking turmoil that has so far been less than convincing. Stocks on Wall Street ended lower on Tuesday despite more calm being [..]

Technical Analysis – AUDUSD battles with 50-SMA and ascending trendline

Posted on March 28, 2023 at 2:54 pm GMT

AUDUSD had been in a steady uptrend in the four-hour chart, trading within an upwards sloping channel. However, the price recently broke below this bullish pattern, while its attempts for recovery have encountered strong resistance at the 50-period simple moving average (SMA) and the lower boundary of the ascending channel. The short-term oscillators are indicating a cautiously bullish near-term tone. Specifically, the RSI has crossed above its 50-neutral mark and the MACD histogram is strengthening above its red signal line [..]

Technical Analysis – AUDUSD extends sideways move as 200-day SMA caps upside

Posted on March 27, 2023 at 2:42 pm GMT

AUDUSD had been forming lower highs and lower lows within a downward sloping channel after peaking at 0.7157 in early February. Although the pair managed to escape this bearish pattern to the upside, it has been stuck within a tight range as the 200-day simple moving average (SMA) rejected further advances twice. The momentum indicators are currently endorsing the bearish near-term bias. Specifically, the RSI has flatlined below its 50-neutral mark, while the stochastic oscillator is descending near the 20-oversold territory. Should [..]

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