All Articles Tagged - AUDUSD

Daily Market Comment – Yen flirts with intervention level, UK budget U-turn lifts pound

Posted on October 3, 2022 at 9:13 am GMT

Dollar mixed as yen and euro struggle, pound extends rebound on budget hopes Stocks lack direction as Credit Suisse woes add to outlook worries US ISM and jobs data eyed as Fed reiterates inflation-busting policy stance Recession fears run high but UK’s Kwarteng offers some relief The third quarter got off to a subdued start on Monday as there was no respite for equity markets from the worsening economic landscape globally, though major currencies were able to bounce back amid [..]

Technical Analysis – AUDUSD heads south again; bearish bias intact

Posted on September 30, 2022 at 11:46 am GMT

AUDUSD’s sharp rebound from the 29-month bottom of 0.6362 is fading as the market is heading lower again, remaining beneath the return line of the downward sloping channel. The MACD oscillator is strengthening its negative momentum beneath its trigger and zero lines, while the RSI is edging lower near the 30 level. The next turning point might come at the 0.6367 support, while an extension to the downside may drive the price until the trough of 0.6250, registered in April [..]

Week Ahead – RBA and RBNZ to weigh 50-bps hikes but NFP report to set the mood

Posted on September 30, 2022 at 10:22 am GMT

The antipodean central banks will kick off the new month with their October policy decisions, but the latest jobs report out of the US could steal the limelight amid the never-ending anticipation of when the Fed will reach peak hawkishness. Following the latest panic in the markets and the renewed rush to buy US dollars, the reserve banks of Australia and New Zealand might be more inclined to maintain their aggressive pace of tightening and not ease up just yet. [..]

Can the RBA bring the aussie back to life? – Forex News Preview

Posted on September 30, 2022 at 7:40 am GMT

After raising interest rates by another 50bps in September, the RBA meets again to decide on monetary policy this Tuesday at 03:30 GMT. Following remarks by Governor Philip Lowe that the pace of rate hikes may slow from here onwards, investors are leaning slightly towards a 25bps increase this time. However, they see a higher terminal rate than they’d been projecting ahead of the prior meeting. Ergo, they may be eager to find out whether they are right or not, [..]

Technical Analysis – AUDUSD detects oversold conditions near fresh lows

Posted on September 29, 2022 at 7:45 am GMT

AUDUSD was trimming Wednesday’s quick bounce from the 29-month low of 0.6362 during Thursday’s early European trading hours, but the completed doji candlestick pattern continued to feed hopes for an upside reversal. Given the price’s continuous contact with the lower Bollinger band over the past month, the odds are favoring the bulls. The RSI and the stochastics are adding to this optimism as the indicators are trying to exit the oversold territory. Nevertheless, buyers could hold up until the price successfully claims the [..]

Will China’s manufacturing PMIs offer relief to the battered aussie? – Forex News Preview

Posted on September 28, 2022 at 12:47 pm GMT

The manufacturing PMIs are expected to come out of China on Friday at 01:30 GMT and if they hint better economic momentum in September, then there may be some reprieve from the sell-off of the Australian dollar. Currently, the aussie is in a strong bearish move recording a new 29-month low below 0.6400. Caixin and NBS manufacturing PMIs forecasts The Caixin Manufacturing PMI unexpectedly dropped to 49.5 in August from 50.4 in July, below market expectations of 50.2, and indicating the sector’s [..]

Week Ahead – Euro eyes Italian elections and flash CPI, dollar may take a backseat

Posted on September 23, 2022 at 11:19 am GMT

With the Fed meeting out of the way, a quieter week is on the horizon, barring of course any flare up of tensions between Russia and Ukraine. Either way, the spotlight will probably fall on the euro as far-right parties are expected to gain ground in Italy’s parliamentary election on Sunday, while preliminary inflation readings will come to the fore at the end of the week. In the US, the highlight will be on the PCE inflation figures, though it’s [..]

Technical Analysis – AUDUSD tumbles to new 28-month low

Posted on September 22, 2022 at 7:00 am GMT

AUDUSD is plummeting for the third straight day towards a fresh 28-month low of 0.6580, remaining within a downward sloping channel since the beginning of June. The price had a pullback from the bearish cross within the 20- and 50-day simple moving averages (SMAs), keeping the medium-term outlook bearish. Technically, the MACD is strengthening its negative momentum below its trigger and zero lines, while the RSI is approaching the 30 level. Should weakness extend below the multi-month low of 0.6580 and the [..]

Daily Market Comment – Dollar at fresh highs ahead of Fed as Russia jitters sink euro

Posted on September 21, 2022 at 9:09 am GMT

Russia-Ukraine tensions flare up, knocking the euro and boosting safe havens Stocks subdued but losses contained as investors await Fed decision Yields fall back slightly and gold climbs on Russia worries Tense mood amid Fed and geopolitical risks The US dollar extended its gains on Wednesday, while stocks stayed largely in the red as investors weighed the risks from the Fed’s upcoming policy decision as well as the possible impact from Russia’s latest warmongering, which is adding to the [..]

Technical Analysis – AUDUSD on a slippery slope; bears meet 0.6700

Posted on September 20, 2022 at 9:31 am GMT

AUDUSD is recording its third day of losses near 0.6700 after a failed attempt to meet the 50-period simple moving average (SMA) near the 0.6770 barrier. Chances for a reversal, however, are decreasing as the pair is heading lower, while the red Tenkan-sen line is holding beneath the blue Kijun-sen line, suggesting that the next move in the price is more likely to be down. Technically, the RSI is heading south below the neutral threshold of 50, while the stochastic oscillator posted [..]

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