All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD surges above the downtrend line, testing 0.7000

Posted on July 28, 2022 at 7:02 am GMT

AUDUSD is surging above the medium-term descending trend line, adding some optimism for a short-term bullish bias. The simple moving averages (SMAs) are also confirming this move as they are pointing upwards, and the technical indicators are holding in a positive territory. The RSI is sloping north above the 50 level, while the MACD is increasing its momentum above its trigger and zero lines. If buying interest intensifies, resistance may originate from the 0.7070 peak ahead of the 200-day SMA [..]

Will Australian CPI data move the aussie higher? – Forex News Preview

Posted on July 25, 2022 at 2:38 pm GMT

Australia’s inflation figures for the second quarter are scheduled to be released on Wednesday at 01:30 GMT, and it is believed that this information will get substantial interest. Ahead of the data, the Australian dollar jumped higher, to a one-month high, after interest rates were raised by 50 basis points at the last two meetings. Annual CPI predicted to accelerate Australian CPI is expected to rise by 1.8% in the second quarter compared to the prior quarter versus 2.1% previously. The annual rate is projected to quicken from 5.1% to [..]

Daily Market Comment – Euro edges up on Nord Stream relief, awaits ECB outcome

Posted on July 21, 2022 at 9:04 am GMT

Euro buoyed as gas flows resume ahead of ECB decision, but turmoil in Italy Earnings lift S&P 500 to 6-week high but stocks mixed today Gold slumps to one-year low as it loses out to rising rates, bullish dollar All eyes on size of ECB rate hike and new bond tool The euro is clawing higher ahead of the European Central Bank’s widely anticipated interest rate rise – the first in 11 years – later today. There is some uncertainty [..]

Technical Analysis – AUDUSD tests 0.6900, remaining in descending channel

Posted on July 21, 2022 at 6:54 am GMT

AUDUSD is carrying on with its rebound from the previous week with better impetus than it had before, within its extending pattern of decline. The price is currently approaching the 0.6900 mark and then the next key level to have in mind is the 0.7000 that may switch the bias to neutral. The short-term bias appears to be bullish as the MACD keeps gaining ground above its red signal line, and the RSI is looking to be working its way [..]

Daily Market Comment – Wall Street rallies on earnings boost, euro hits 2-week high on ECB bets

Posted on July 20, 2022 at 9:14 am GMT

Gloom fades further with the help of earnings as stocks rally, dollar retreats Euro extends recovery as ECB decision looms, gas supply fears subside Pound rises on hawkish BoE but political risks cap gains Have stocks reached a bottom? The market mood improved dramatically overnight after Wall Street notched up its best daily gains in almost four weeks. After the recent avalanche of dreadful headlines, things appear to be looking up somewhat, leading some investors to speculate whether the worst [..]

Technical Analysis – AUDUSD posts bullish run in descending channel

Posted on July 19, 2022 at 1:10 pm GMT

AUDUSD is continuing last week’s rebound with stronger momentum than before within its long downward pattern. The short-term bias looks positive as the MACD keeps gaining ground above its red signal line, while the RSI seems to be making its way up above its 50-neutral mark, though more progress is needed. The 40-day simple moving average (MA) currently at 0.6965 could be a trigger point for steeper bullish action if the pair manages to break the line. This is also slightly below the 0.7070 [..]

Daily Market Comment – Stocks falter as Apple weighs but dollar remains soft, euro rallies

Posted on July 19, 2022 at 8:45 am GMT

Equity rebound stumbles as Apple dents optimism ahead of tech earnings Euro rebound gains traction on ECB sources as gas flow resumption awaited Dollar stays on the backfoot, aussie jumps on hawkish RBA minutes Wall Street looking shaky again amid uncertainties Market sentiment remained broadly positive on Tuesday but there was a greater sense of cautiousness amid worries about the earnings outlook, ongoing recession fears and some apprehension ahead of the policy decisions by the European Central Bank and Bank [..]

Week Ahead – Pressure mounts on ECB and BoJ after latest dollar surge

Posted on July 15, 2022 at 11:45 am GMT

After another sizzling-hot inflation report out of the United States, the European Central Bank and Bank of Japan will meet against the worrisome setting of their currencies plunging. The former is expected to launch its tightening cycle, but the latter may make a surprise policy move even though it has not signalled any action. It’s looking to be an eventful week on the data front as well, as the flash PMI estimates for July and inflation numbers are due in [..]

Technical Analysis – AUDUSD wobbles near 2-year low

Posted on July 14, 2022 at 7:35 am GMT

AUDUSD hovered quietly near Wednesday’s closing price of 0.6757 during Thursday’s early European trading hours after negligibly rotating at the two-year low of 0.6710. The penetrated support line drawn from the August 2021 low of 0.7105 is now acting as resistance around the same region, preventing any increases towards the 20-day simple moving average (SMA) at 0.6850. Even higher, the tentative descending trendline and the 50-day SMA around 0.6978 may also defend the negative trend in the market ahead of the 0.7070 [..]

Technical Analysis – AUDUSD bounces-off 2-year low but retains bearish outlook

Posted on July 13, 2022 at 3:00 pm GMT

AUDUSD has been experiencing a sustained downtrend, generating a profound structure of lower highs and lower lows. However, in the last few four-hour sessions, the pair has adopted a sideways pattern after it managed to cease its decline at the two-year low of 0.6710. The momentum indicators suggest that bearish forces remain in control. Specifically, the RSI is flatlining beneath its 50-neutral mark, while the stochastic oscillator is sloping downwards after posting a bearish cross. If negative momentum strengthens, the price [..]

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