All Articles Tagged - AUDUSD

Weekly Technical Analysis – USDJPY, EURUSD, AUDUSD

Posted on February 28, 2023 at 11:03 am GMT

This week the focus of attention will be on the US ISM manufacturing and non-manufacturing PMIs, Eurozone CPI and Australian GDP figures and the focus would be at how USDJPY, EURUSD and AUDUSD may react. US ISM PMIs → USDJPY On Wednesday and Friday, the ISM PMIs are likely to get a lot of attention. The manufacturing PMI is expected to have risen from 47.4 to 47.9, but the non-manufacturing PMI is expected to have fallen from 55.2 to 54.2. [..]

Technical Analysis – AUDUSD seems poised to continue falling

Posted on February 24, 2023 at 12:50 pm GMT

AUDUSD has been in a sliding mode today, clearing the 0.6810 barrier, marked by the low of February 17. Overall, the pair is trading below the prior uptrend line drawn from the low of October 13, but also below a shorter-term downtrend line taken from the high of February 2. Overall, this paints a negative short-term outlook, which keeps the door for further declines open. The RSI is lying below 50 and looks to be heading towards 30, while the MACD is [..]

How critical will next week’s Australian GDP and CPI data be for the aussie? – Forex News Preview

Posted on February 24, 2023 at 11:48 am GMT

Australia’s GDP for the fourth quarter and the monthly CPI figure are scheduled to be released on Wednesday at 00:30 GMT, and it is believed that these numbers will attract some interest. Ahead of the data, the Australian dollar fell below $0.6800 after a significant pullback off the eight-month high around $0.7160. In the meantime, Australia’s and China’s trade ministers will engage in virtual trade negotiations. Australian economy expected to expand further In the third quarter of 2022, the Australian economy expanded by 0.6% q/q, which was lower than the 0.7% increase [..]

Technical Analysis – AUDUSD plummets but 200-day SMA curbs decline

Posted on February 23, 2023 at 8:33 am GMT

AUDUSD had been staging an impressive rebound, trading within an upward sloping channel since mid-October. Nevertheless, the pair experienced a moderate pullback in the short term, with the price escaping its pattern to the downside to find strong support at the 200-day simple moving average (SMA). The momentum indicators currently suggest that bearish forces have gained total control. Specifically, the MACD histogram is softening below both zero and its red signal line, while the RSI is pointing upwards but remains well [..]

Daily Market Comment – Dollar extends gains after PMIs, awaits Fed minutes

Posted on February 22, 2023 at 9:12 am GMT

Dollar strengthens as better PMIs add to Fed hike bets Eurozone and UK PMIs also surprise to the upside Equities and risk-linked currencies feel the heat of hike bets Better PMIs fuel Fed hike bets and the dollar, Fed minutes on tap The dollar traded higher against all but one of the other major currencies yesterday, although it is trading mixed today. The only currency against which the greenback lost ground was the British pound. Following a streak of upbeat [..]

Technical Analysis – AUDUSD meets strong resistance at 0.6920

Posted on February 21, 2023 at 10:02 am GMT

AUDUSD traded somewhat lower yesterday and continued drifting south today, after it hit resistance near the 0.6920 barrier, which currently coincides with the 50-period exponential moving average. Overall, the pair lies below the prior uptrend line taken from the low of October 13, and below the newly drawn downtrend line taken from the high of February 2. This keeps the door for more selling wide open. The RSI has turned back below 50, while the MACD, although still above its [..]

Technical Analysis – AUDUSD meets the lower boundary of the channel; bullish outlook

Posted on February 16, 2023 at 9:11 am GMT

AUDUSD is battling with the lower boundary of the medium-term upward sloping channel near the 50.0% Fibonacci retracement level of the downleg from 0.7660 to 0.6170 at 0.6915. The price is finding a key support level near the 0.6870 barrier and the 50-day simple moving average (SMA). Technically, the oscillators are giving some contradictory signs as the MACD is losing momentum beneath its trigger line and near the zero level, while the RSI is pointing marginally up near the neutral [..]

Technical Analysis – AUDUSD battles with 50-day SMA

Posted on February 15, 2023 at 2:32 pm GMT

AUDUSD is trading lower today, reversing the last two-day advance. It has been trading inside a tight range in the past few sessions, and it is currently trying to break the 50-day simple moving average (SMA). The first attempt on February 6 failed, causing a decent move higher. The pair has been experiencing a series of higher highs and highs lows since October 13. If the February 6 low proves to be a local trough, the bulls would need a new [..]

Australian employment report may show RBA’s next steps – Forex News Preview

Posted on February 14, 2023 at 3:05 pm GMT

The Reserve Bank of Australia’s (RBA) rate decision was the main topic of conversation last week, but the country’s employment report for January is set to come out this Thursday at 01:30 GMT. In February, the RBA raised interest rates by 25 basis points, which was a move that most market participants were expecting. Ahead of this week’s data, the Australian dollar hit a high above $0.70 after a significant rebound off the medium-term uptrend line. RBA updates its economic projections The Reserve Bank’s Monetary Policy [..]

Daily Market Comments – Risk appetite wanes as yields keep climbing

Posted on February 10, 2023 at 10:13 am GMT

Wall Street headed for weekly losses as hawkish Fed talk pushes up yields But dollar mixed as investors await more clues on inflation Yen gains on BoJ nomination reports, oil jumps as Russia cuts output Recession fears intensify as yield inversion deepens Equity markets look set to end the week on a sour note as investors finally seem to be heeding the message from the Fed that the rate-hike cycle has some way to go following a series of hawkish [..]

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