All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD stays in downtrend, but struggles to go for a lower low

Posted on October 17, 2022 at 1:09 pm GMT

AUDUSD traded higher late on Friday and today after it found support at 0.6190, slightly above the two and a half year low of 0.617 hit on Thursday. Overall, the pair continues to trade below the downtrend line drawn from the high of September 13, as well as below a longer-term downside line, taken from the high of August 11. This keeps the broader outlook negative, but a break below 0.6170 may be needed to signal a continuation of the [..]

Week Ahead – Inflation data may keep pound in the firing line, China GDP on tap

Posted on October 14, 2022 at 11:22 am GMT

Inflation will dominate the market theme again in the coming week as, after the United States, it will be the turn of others to face their inflation demons. With the risk of recession growing by the day but not a lot changing with the inflation dynamics, UK CPI figures will attract the most attention, while a modest pickup in Japan is unlikely to spur any policy shifts at the Bank of Japan. China will also come under the spotlight as [..]

Technical Analysis – AUDUSD slumps to 29-month low as outlook deteriorates

Posted on October 13, 2022 at 7:52 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 and traded sideways during the past week, it soon broke the pattern to the downside to form a fresh 29-month low of 0.6234. The short-term oscillators are endorsing this bearish near-term bias. Specifically, the RSI is hovering within its 30-oversold zone, while the MACD histogram has retreated further below its red signal line in [..]

Chinese CPI and GDP data may give some signs of economy’s slowdown – Forex News Preview

Posted on October 11, 2022 at 1:38 pm GMT

The release of data from China this week may help allay some of the fears that the world’s second largest economy is beginning to slow down. The Chinese CPIs and the GDP are coming out on Friday at 01:30 GMT and next Monday at 02:00 GMT, respectively. These data may also give some guidance for the aussie’s next directional movement as it is still in a strong negative tendency. Chinese CPI and GDP data expected to rise The Chinese government [..]

Technical Analysis – AUDUSD holds at 30-month lows; bearish in short- and medium-term

Posted on October 10, 2022 at 12:49 pm GMT

AUDUSD recorded a fresh 30-month low of 0.6316 after the sideways movement in the preceding couple of weeks. The bearish picture in the long-term is further supported by the MACD, which is falling below its red signal line, while the RSI is approaching the oversold zone. If prices continue to head lower, support might come from the 0.6250 support, and the 0.5980 barrier, both taken from low in April 2020. However, should an upside reversal take form, immediate resistance will likely come from the previous strong [..]

Technical Analysis – AUDUSD plummets to fresh lows; bearish bias intact

Posted on October 10, 2022 at 9:21 am GMT

AUDUSD opened the week on a negative note, worsening its broad downtrend to a new 30-month low of 0.6287. The market seems to be trading within oversold waters according to the RSI and the stochastics on the four-hour chart. However, with the indicators showing no signs of improvement, the selling round may continue a bit longer before it stabilizes again. The 0.6282-0.6250 area, which was last active in April 2020, is currently under the spotlight. If that floor cracks, the door will open for the [..]

Daily Market Comment – Dollar shines, stocks slide after another solid jobs report

Posted on October 10, 2022 at 9:00 am GMT

US employment report comes in hot, dashing hopes of a Fed pause Dollar races higher, equities slip, but yen is surprisingly resilient Aussie hits new lows after soft Chinese data, crucial week lies ahead Running hot Despite a relentless rally in interest rates this year that was meant to cool demand, the US labor market continues to fire on all cylinders. Nonfarm payrolls clocked in at 263k in September, a slowdown from last month but still a solid reading overall. [..]

Technical Analysis – AUDUSD consolidates above 29-month low

Posted on October 7, 2022 at 11:23 am GMT

AUDUSD has been trading in a range that is contained between the support level of 0.6367 and the resistance level of 0.6550. The MACD is still above its trigger line in the negative region, and the RSI is sloping up near the oversold line. The 20-day and 50-day simple moving averages (SMAs) are traveling south, which confirms the long-term bearish view. In the event that the price is unable to break through the resistance level at 0.6550, it may revist [..]

Technical Analysis – AUDUSD consolidates in short-term; broader outlook is bearish

Posted on October 6, 2022 at 6:40 am GMT

AUDUSD has been moving sideways over the last week, consolidating within the 0.6367 support and the 0.6550 resistance. In trend indicators, the 20- and 50-day simple moving averages (SMAs) are heading south, confirming the long-term bearish outlook, while the MACD is holding above its trigger line in the negative region and the RSI is sloping up below the neutral threshold of 50. A failure to overcome the 0.6550 resistance level could send the price down to the 29-month low of [..]

Daily Market Comment – Equities begin the last quarter on positive note; RBA delivers smaller hike

Posted on October 4, 2022 at 8:32 am GMT

Wall Street rebounds on worse than expected ISM PMI Pound extends recovery on UK government’s U-turn RBA hikes by 25bps, RBNZ takes the torch Gold gains on sliding bond yields Wall Street rebounds, yields slide on ISM PMI miss Equities finished the first trading day of this year’s final quarter on a positive note, with all three of Wall Street’s main indices gaining more than 2% as Treasury yields pulled back on the larger-than-expected slide in the ISM manufacturing PMI. [..]

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