All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD forms bullish setup

Posted on February 9, 2023 at 9:00 am GMT

AUDUSD established a bullish setup around its 50-day simple moving average (SMA), aiming to recover last week’s rapid downfall. Specifically, the pair has completed a large green candlestick following a doji candlestick earlier this week, pointing to fizzling selling tendencies. Interestingly, the rebound in the price took place at the lower boundary of a bullish channel, raising optimism that the recovery has just started. Yet, with the support-turned-resistance trendline capping upside pressures around 0.6965 over the past few days, the current consolidation phase may [..]

Is the dollar staging a comeback? – Special Report

Posted on February 8, 2023 at 3:11 pm GMT

Following last week’s robust US data, the dollar surged against all its major counterparts, gaining the most against the risk-linked currencies aussie and kiwi. Investors revised up their expectations with regards to the Fed’s future course of action, admitting for the first time that they were probably wrong in pricing in a lower peak in interest rates and around 50bps worth of rate cuts later this year. Does this mean that the US dollar is staging a solid comeback? Dollar [..]

Technical Analysis – AUDUSD edges higher, faces resistance from upward trendline

Posted on February 8, 2023 at 2:18 pm GMT

AUDUSD is edging higher for a second consecutive session, recovering partly from the last week’s drop. AUDUSD has been on an upward path since October 13, 2022 when it recorded a 2-year low. It touched 0.7068 on February 2, the highest level for almost eight months. The pair has been experiencing a textbook-like series of higher highs and highs lows. If the February 6 low proves to be a local trough, the bulls would need a new higher high above the [..]

Daily Market Comment – Caution ahead of Powell after RBA’s hawkish drumbeat

Posted on February 7, 2023 at 10:21 am GMT

Equity markets struggle to get back on their feet after hawkish Bostic and RBA Dollar holds near one-month highs, aussie jumps as RBA flags more rate hikes Yen perks up on wage data, gold firmer ahead of Biden’s State of the Union speech Stocks make limited headway as Powell looms large Trading got off on a somewhat steadier note on Tuesday, with some equity markets turning positive, while the US dollar’s rebound appeared to run out of steam. But the [..]

Daily Market Comment – Dollar soars, stocks dive after NFP shock; yen skids on BoJ rumours

Posted on February 6, 2023 at 10:26 am GMT

Jump in payrolls halts tech rally, revives dollar bulls; Fed speakers eyed next Yen tumbles on reports that Kuroda successor will be architect of BoJ’s ultra-easy policy Gold takes a hit from surging yields, but pares losses on US-China tensions Markets learning to not fight the Fed Friday’s payrolls report sent markets into a spin as the US economy added a staggering 517k jobs in January, disproving concerns about a worsening slowdown. More crucially, the fact that the labour market [..]

Will the RBA start the year with another 25bps hike? – Forex News Preview

Posted on February 3, 2023 at 1:50 pm GMT

With inflation in Australia shooting to a 33-year high in Q4, most market participants are convinced that the RBA will continue raising interest rates. The Bank meets on Tuesday at 03:30 GMT, with investors eager to see whether another quarter-point hike will be delivered, but also what policymakers are planning thereafter. Will the RBA sound hawkish enough to add extra fuel to the aussie’s tanks? What happened in December At its last meeting for 2022, the RBA decided to raise [..]

Week Ahead – RBA next to hike, UK might avoid a recession (for now)

Posted on February 3, 2023 at 12:56 pm GMT

After the past week’s central bank bonanza, things will quieten down in the coming days, although not completely, as the Reserve Bank of Australia will keep the rate hike theme running. On the data front, the highlights will be Canada’s employment report and the first look at UK GDP in the final quarter of 2022. US indicators will be sparse, giving the dollar little to go on as it bounces back from the knock it took from the not-so-hawkish Fed [..]

Technical Analysis – AUDUSD unlocks new 8-month high

Posted on February 2, 2023 at 8:41 am GMT

AUDUSD surged to a fresh eight-month high of 0.7157 earlier today, boosting the rebound off the 0.6985 support level. The price is creating a steep bullish tendency after it bottomed at 0.6170 with the technical oscillators standing in positive region. The MACD is extending its move above its trigger and zero lines, while the RSI is approaching the overbought region. More increases could open the way towards the 0.7280 resistance, taken from the high in May 2022, while if the [..]

S&P500 short-term correlations hold surprises – Special Report

Posted on February 1, 2023 at 7:13 am GMT

It has been a relatively quiet week, but it is highly probable that this calmness will be broken soon. The numerous central bank meetings, starting with the Fed gathering on Wednesday afternoon, and the busy data calendar promise an eventful period. Market correlations are used extensively by market participants to depict the current state of the market. Do long-term correlations stand or has something changed in the market recently? By using daily data, we calculated the latest 3-month daily correlation, [..]

Technical Analysis – AUDUSD boosts monthly gains; August’s top in focus

Posted on January 27, 2023 at 9:14 am GMT

AUDUSD is set for its third monthly gain, having been trading bullish almost every single week since the slump to a 30-month low of 0.6169 in mid-October,. The pair is currently flirting with August’s high of 0.7136, while the 61.8% Fibonacci retracement of the 0.7660-0.6169 downtrend might be another warning zone at 0.7185 as the RSI and the Stochastics flag overbought conditions. Note that the price keeps fluctuating around the upper Bollinger band area, increasing the odds of a downside correction as well. Nevertheless, [..]

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