All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD fails to break 61.8% Fibonacci

Posted on August 23, 2022 at 8:43 am GMT

AUDUSD is struggling to dive beneath the 61.8% Fibonacci retracement level of the upward wave from 0.6680 to 0.7135 as it is acting as strong support level for traders. The price also remains beneath the 200-period simple moving average (SMA) and the 50.0% Fibonacci, confirming the recent neutral-to-bearish mode. The neutral bias in the near term is also supported by the stochastic, which has been hovering above the 20-neutral level in the past few sessions but has not yet crossed [..]

Daily Market Comment – Dollar powers up, stocks slip, China cuts rates

Posted on August 22, 2022 at 8:33 am GMT

Mighty US dollar flexes its muscles ahead of Jackson Hole China cuts interest rates to deal with unfolding property crisis Equity markets rediscover gravity, gold loses altitude too Dollar steamroller The relentless rally in the US dollar is gathering momentum as market participants seek refuge from the troubles in other major currencies and brace for a more forceful tone from a Federal Reserve trying to wrestle back control of financial conditions. A deepening energy shortage has torched the euro, with [..]

Daily Market Comment – Dollar roars higher, stocks muted amid Fed uncertainty, recession risks

Posted on August 19, 2022 at 9:27 am GMT

Dollar stretches weekly gains, hits 1-month high, on Fed talk, dimming outlook Wall Street headed for flat week as growth worries keep optimism in check Gold and oil set to end week on the backfoot, but gas prices hold near highs Markets look to Jackson Hole as Fed rate path gets blurred Sentiment was subdued on Friday as investors struggled to get an accurate reading on the US economy as well as on the Fed’s intentions about the pace of [..]

Daily Market Comment – Markets struggle for direction as Fed keeps its options open

Posted on August 18, 2022 at 8:59 am GMT

Fed minutes lean hawkish, signal ‘restrictive’ policy, but open door to slower pace Dollar stays on the front foot, Wall Street bounces off lows but then starts drifting Euro holds within range as European gas prices surge to record highs Fed pushes back on rate cut bets, markets don’t listen The Federal Reserve warned that moving to a “restrictive stance of policy” was essential in the minutes of the July meeting, as it fights to get inflation down to its [..]

Technical Analysis – AUDUSD breaks below an upside support line

Posted on August 17, 2022 at 12:19 pm GMT

AUDUSD entered a phase of steep declines on Monday, after hitting resistance a few pips below the peak of Friday, at around 0.7135. Although some buyers sought to take advantage of the slide between the 0.6990 and 0.7040 levels, they were unable to withhold the pressure. This resulted in another round of selling and a break below the upside line drawn from the low of July 14th. The switch in the short-term bias is also confirmed by our short-term oscillators. [..]

Daily Market Comment – Dollar steady ahead of US retail sales, Fed minutes as stocks stay buoyant

Posted on August 17, 2022 at 8:50 am GMT

US retail giants lift recession gloom, as Dow Jones and S&P 500 extend gains But FX market focused on US data and Fed minutes, dollar stays firm Pound and kiwi reverse gains from UK inflation surprise and hawkish RBNZ Stocks stay on the bright side Equity traders continue to shrug off persisting recession worries, choosing to bet instead that a severe downturn will be avoided, at least when it comes to earnings. Walmart and Home Depot were the latest to [..]

Can Australian job data offset risks from China’s slowdown? – Forex News Preview

Posted on August 16, 2022 at 3:06 pm GMT

Australia’s job data for July will hit the markets on Thursday at 01:30 GMT and is expected to gather significant attention. Following a 50-basis-point rate hike by the Reserve Bank of Australia (RBA) at the August meeting, which was coupled with cautious guidance about the future tightening path, a solid employment report could enable the Bank to maintain its hawkish stance. However, increasing fears over China’s economic growth and cooling commodity prices continue to undermine the aussie’s prospects. RBA minutes hint dovish turn [..]

Daily Market Comment – Oil sinks, dollar surges as growth fears return but stocks keep partying

Posted on August 16, 2022 at 9:03 am GMT

Dismal data out of China and the US stifle risk appetite as recession risks return But Wall Street immune to the doom and gloom as tech stocks rally Dimming outlook weighs on commodities as oil hits 6½-month low Dollar powers ahead on fresh growth scare The month-long risk rally suffered a major setback on Monday after economic indicators out of the world’s two biggest economies did anything but shore up confidence in the growth outlook, reviving fears about a [..]

Technical Analysis – AUDUSD storms higher, eyeing 200-day SMA

Posted on August 12, 2022 at 1:14 pm GMT

AUDUSD has been extending its advance above the 50-day simple moving average (SMA) after rebounding from the 26-month low of 0.6680. In addition, the price is closing the gap with the 200-day SMA and the upper Bollinger band, endorsing the possibility of a bullish breakout. The short-term oscillators are reflecting the intensifying positive momentum. Specifically, the MACD histogram has jumped above zero and its red signal line, while the RSI is flatlining above its 50-neutral threshold. Should buying pressures persist, the [..]

Week Ahead – A plethora of data, an RBNZ meeting, but focus on Fed minutes

Posted on August 12, 2022 at 12:05 pm GMT

There will be no shortage of data releases in the coming week and the RBNZ is poised to hike rates again. But with investors still undecided about the implications of the latest US inflation report on Fed policy, the FOMC minutes might steal the limelight. Meanwhile, thinning liquidity as more traders head for their holiday destinations increases the likelihood of big knee-jerk reactions as markets obsess about the pace of monetary tightening and the risks of a recession. RBNZ leading [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

AUDUSD

XM Live Chat