All Articles Tagged - AUDUSD

Technical Analysis – Is AUDUSD set for another leg south?

Posted on December 6, 2022 at 12:34 pm GMT

AUDUSD traded in a consolidative manner on Tuesday, staying between the 50- and 100-period exponential moving averages (EMAs) and slightly below the prior upward sloping trendline drawn from the low of November 3. This keeps the door open for further declines but given that the pair is still trading above another, less steep, line taken from the low of October 13, such declines may be seen as just a deeper correction. The break below the steeper line confirmed the negative divergence [..]

RBA rate decision next on the agenda – Forex News Preview

Posted on December 5, 2022 at 4:03 pm GMT

Another quarter-point rate hike is probably on the Reserve Bank of Australia’s agenda, which is due to announce its last policy decision for the year on Tuesday at 03:30 GMT. While inflation prompts additional monetary tightening next year, internal fragilities may promote a more flexible policy approach. Early hints on forward guidance may trigger the next wave of volatility in the aussie. Another quarter-point rate hike The Reserve Bank of Australia (RBA) upgraded its forecasts for inflation and wage growth [..]

FX year ahead 2023: Recessions and trend reversals – Special Report

Posted on December 5, 2022 at 3:01 pm GMT

The US dollar steamrolled every other major currency this year, capitalizing on a perfect storm of widening interest rate differentials, safe-haven flows, and an absence of attractive alternatives. This ferocious rally could extend into next year, as most economies will likely fall into recession long before the US does. Nonetheless, the second half of the year might see a reversal in this trend. Could the yen come from behind to be the winner of 2023, in case the dollar rally [..]

Week Ahead – Australia and Canada kick off central bank bonanza

Posted on December 2, 2022 at 12:02 pm GMT

A litany of central bank meetings lies ahead in the first half of December. The ball will get rolling with the Reserve Bank of Australia and the Bank of Canada next week, both of which are expected to raise interest rates again, albeit at a slower pace. Meanwhile in America, business surveys and producer prices will shape expectations around Fed policy, helping investors decide whether the dollar’s best days are behind it. RBA shifts into lower gear The Australian economy [..]

Technical Analysis – AUDUSD targets 200-SMA after solid November

Posted on December 1, 2022 at 9:08 am GMT

AUDUSD jumped into the 0.6800 territory early on Thursday after a remarkable session in November, which added 6% to the pair’s value—the largest gain since April 2020. The progress followed the confirmation of a bullish inverse head and shoulders (H&S) pattern near the 30-month low of 0.6169, though the 200-day simple moving average (SMA), which has been a major obstacle to bullish actions, remains a threat at 0.6915. The 50% Fibonacci retracement of the 0.7660-0.6169 downtrend is also in the neighborhood. Nevertheless, [..]

Daily Market Comment – Stocks, oil bounce back on China hopes, dollar’s Fed-led rebound falters

Posted on November 29, 2022 at 10:14 am GMT

Mood improves as China takes more baby steps to shift away from zero Covid But risk assets rebound only modestly as Fed hawks keep optimism in check Dollar pulls back, oil climbs on possible OPEC+ output cut Easing protests in China calm markets The unrest in China appears to be easing amid a massive police presence on the streets of Beijing, Shanghai and other major cities. But while the clampdown may by succeeding in deterring protestors to come out [..]

Technical Analysis – AUDUSD jumps higher above short-term SMAs

Posted on November 29, 2022 at 9:36 am GMT

AUDUSD has been recording a stunning rally over the last three 4-hour sessions, surpassing the short-term simple moving averages (SMAs). The technical indicators suggest that the market could boost the upward move a little bit more in the near-term. The RSI is currently increasing positive momentum above its neutral threshold of 50 after an exit from negative levels, while the stochastic is keep moving higher after the bullish cross within the %K and %D lines. Should the market extend its gains, [..]

Daily Market Comment – Risk-on takes a hit as China protests spark unease

Posted on November 28, 2022 at 9:54 am GMT

Yen jumps, yields slip as anti-lockdown protests in China dent sentiment Oil slumps to one-year low amid rising concerns about Chinese demand Stocks start the week in the red as NFP and other crucial data eyed Growing protests in China rattle markets Risk assets took a knock at the start of the week as worries about instability in China and how the country’s unyielding zero-Covid policy might further blight the outlook led investors to search for safety. Anti-lockdown protests started [..]

Week Ahead – Decisive week for the dollar as PCE inflation and NFP reports coming up

Posted on November 25, 2022 at 1:36 pm GMT

After the Thanksgiving downtime that generated some further weakness for the greenback, investors will be looking for fresh direction from the barrage of US economic data that will be dominating the agenda in the coming week. The latest payrolls report will be the main attraction along with PCE inflation readings. CPI data out of Australia, the Eurozone and Switzerland as well as Canadian GDP numbers will be important too, while OPEC’s monthly decision will be another one to watch amid [..]

Technical Analysis – AUDUSD erases pullback, eyes recent rejection region

Posted on November 24, 2022 at 8:58 am GMT

AUDUSD has been stuck in a steep downtrend since early March, but it managed to recoup some losses after bouncing at the 30-month low of 0.6169. Even though the recent rebound paused temporarily and the pair exhibited a minor correction in the short term, it has been regaining lost ground in the last few daily sessions. The momentum indicators are endorsing this bullish near-term bias. Specifically, the stochastic oscillator is ascending after posting a bullish cross, while the MACD histogram is strengthening [..]

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