All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD battles with SMAs and Ichimoku cloud

Posted on November 22, 2022 at 10:32 am GMT

AUDUSD is recouping some of the preceding days of losses, remaining beneath the 20- and the 50-period simple moving averages (SMAs). The technical picture: however, suggests a neutral-to-bullish bias at the moment as the MACD remains negatively charged above its red signal line, while the RSI is currently pushing efforts for an upside reversal, and it is still below its 50 neutral mark. Should the near-term SMAs crack, the price could initially test the 0.6730 resistance level before heading towards [..]

Daily Market Comment – Hawkish Fed, strong data ease dollar’s pain; pound buoyant ahead of budget

Posted on November 17, 2022 at 10:11 am GMT

Dollar regains some footing as Fed officials again rule out early pivot Upbeat retail sales, warning from chip makers also dampen sentiment, stocks slip Pound extends gains despite fears Autumn statement will usher in austerity era Fed dashes hopes of a pivot The US dollar was steadier but still near this week’s lows on Thursday following the Fed’s latest concerted effort to extinguish market speculation of an imminent dovish pivot. Markets have been in a sanguine mood since last week’s [..]

Technical Analysis – AUDUSD remains above downtrend line but with weak momentum

Posted on November 17, 2022 at 8:00 am GMT

AUDUSD is still standing above the long-term downtrend line; however, the momentum is too weak to sustain the bullish movement that started after the bounce off the 0.6270 support level. The MACD oscillator is strengthening the positive move above its trigger and zero lines, suggesting more gains, but, on the other hand, the RSI is sloping marginally down after several failed attempts to climb into the overbought region. In trend indicators, the 20- and 50-day simple moving averages (SMAs) created [..]

Will Australian jobs report justify the RBA’s need for caution? – Forex News Preview

Posted on November 15, 2022 at 9:28 am GMT

Employment numbers out of Australia will be watched on Thursday (00:30 GMT) as the country’s central bank ponders how much further to tighten policy. Higher interest rates have been attributed to the downturn in Australia’s housing market, but up until recently, policymakers were hopeful that the strong labour market would cushion the economy against a broader slowdown. Is the soft patch in the jobs market just temporary, or will there be a rebound in October? RBA worried about housing market [..]

Week Ahead – Spotlight turns to pound and non-US data after dollar bruising

Posted on November 11, 2022 at 1:15 pm GMT

After another US inflation surprise, CPI data will be dominating the agenda in most other markets in the coming week, shifting the focus away somewhat from the greenback. The pound will likely attract the most attention in what will be a busy week for the United Kingdom, as apart from the economic releases, the budget statement will be watched amid lingering worries about high borrowing. Growth indicators will be important in China and Japan, while in the United States, the [..]

Technical Analysis – AUDUSD rallies towards the falling trend line

Posted on November 11, 2022 at 11:54 am GMT

AUDUSD is posting an impressive upside rally, entering within the Ichimoku cloud and flirting with the long-term descending trend line. The break of the previous resistance of 0.6520 was a sign of some bullish corrective movements, confirmed by the technical oscillators as well. The RSI is moving towards the overbought territory, while the MACD is strengthening its bullish momentum above its trigger and zero lines. On the upside, the price could attempt to overcome the 0.6680 barrier and the downtrend line, which [..]

Technical Analysis – AUDUSD misses bullish target; bias neutral-to-bearish

Posted on November 10, 2022 at 8:33 am GMT

AUDUSD turned red after facing a strong rejection around the 0.6500 level on Wednesday. Notably, the pullback took place at the crossroads of two constraining lines, signaling a potential downside reversal. The technical oscillators reflect a neutral-to-bearish bias as the RSI is sliding gradually below its 50 neutral mark and the stochastics are changing direction to the south. Meanwhile, the MACD remains muted marginally below its zero line. The 23.6% Fibonacci retracement of the 0.7136-0.6139 downleg could provide immediate protection against selling pressures along with [..]

Technical Analysis – AUDUSD eases but short-term picture is bullish

Posted on November 8, 2022 at 8:23 am GMT

AUDUSD has come under renewed selling pressure, falling back below the 0.6490 resistance level but remaining above the simple moving averages (SMAs) and the Ichimoku cloud. Moreover, the price rebounded after it found support near the uptrend line taken from the lows of October 13, enhancing the argument that the picture may not be entirely negative at the moment. Looking at momentum oscillators on the 4-hour chart though, they suggest further declines may be on the cards in the very [..]

Daily Market Comment – Stocks pare post-Fed losses ahead of NFP on China hopes; BoE sinks pound

Posted on November 4, 2022 at 10:22 am GMT

Dollar off highs, stocks turn positive as China reopening chatter lifts mood But NFP report could bring Fed tightening fears back into the fore Pound left reeling after BoE hikes big, warns of long recession Hopes of China reopening ease Fed gloom The run-up to the Fed meeting and its aftermath was a rollercoaster ride that didn’t end well for stocks. Investors hoping for a dovish pivot instead got a Fed chief leaning further towards the hawkish end of the [..]

Technical Analysis – AUDUSD retreats after latest rebound falters

Posted on November 3, 2022 at 8:54 am GMT

AUDUSD has been in a steep downtrend since early March, generating a profound structure of lower highs and lower lows. Although the pair managed to find its feet at the 30-month low of 0.6169 and recoup some losses, it quickly moved lower after the 50-day simple moving average (SMA) curbed its upside. The momentum indicators are endorsing this bearish near-term bias. Specifically, the RSI is declining below its 50-neutral mark, while the stochastic oscillator has dived in the oversold area. Should selling [..]

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