All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD ticks down below 0.6900; next support at 2-year low

Posted on June 23, 2022 at 7:21 am GMT

AUDUSD has been underperforming over the last week as it failed to surpass the short-term simple moving averages (SMAs). The price is currently diving beneath the 0.6900 round number, and it appears ready to retest the almost two-year low of 0.6827. Even lower, the market may find strong support near the 0.6770 level, taken from the low in June 2020. Breaking these obstacles, traders may take the pair until the April 2020 inside swing high at 0.6570, confirming the long-term [..]

Daily Market Comment – Wall Street bounces back but recession fears return to haunt markets

Posted on June 22, 2022 at 8:58 am GMT

US stocks join global stock rebound but rally fizzles out already Recession fears intensify again ahead of Powell testimony Oil sinks as White House gets serious about lowering gasoline prices Dollar firmer, euro and pound find some support as aussie and kiwi sink Risk appetite fades amid renewed growth jitters Worries about soaring inflation and stalling growth were weighing on the market mood again on Wednesday as an increasing number of investors, including high-profile names such as Elon Musk, upped [..]

Technical Analysis – AUDUSD moves back and forth from 23.6% Fibonacci

Posted on June 21, 2022 at 1:30 pm GMT

AUDUSD is moving back and forth from the 23.6% Fibonacci retracement level of the down leg from 0.7280 to 0.6850 at 0.6950. The short-term bias looks neutral-to-negative as the RSI keeps losing ground below the 50 level, while the stochastic oscillator posted a bearish crossover within its %K and %D lines. If the pair continues moving to the downside, investors could find immediate support at the 0.6895 barrier ahead of the 0.6850 barrier, which is a 13-month low. More decreases may extend the [..]

Daily Market Comment – Stocks extend gains, dollar retreats as recession angst tempered

Posted on June 21, 2022 at 8:29 am GMT

Market panic continues to ease, stocks claw higher, but mood is subdued Euro and pound nudge up on ECB and BoE comments, RBA caps aussie gains Powell testimony and data awaited for more direction Equities stage a cautious rebound The market turmoil sparked by last week’s round of central bank rate hikes receded further on Tuesday, as worries about a recession were put on hold while investors weighed the risks ahead of some key data and a congressional testimony by [..]

Daily Market Comment – A calmer start after torrid week, spotlight on Powell testimony

Posted on June 20, 2022 at 9:09 am GMT

Dollar eases off as risk appetite makes a tepid return, US futures edge up Euro climbs despite Macron losing parliamentary majority Fed hawks downplay recession risks but investors cautious ahead of Powell Commodity prices remain pressured after sharp selloff Panic selling pauses for now as yields pull back Markets got off to a steadier start on Monday following last week’s turmoil that tipped the S&P 500 officially into a bear market. Fears about high inflation forcing central banks’ hands to [..]

Week Ahead – Flash PMI and inflation data in focus after mammoth Fed rate hike

Posted on June 17, 2022 at 11:58 am GMT

Recession worries are mounting as central banks around the world step up their fight against soaring inflation. The flash PMI readings for June will be watched for any clues that tighter monetary policy is choking economic growth. In the meantime, inflation numbers in Canada, Japan and the United Kingdom could add yet more pressure on policymakers to do more. However, after hiking rates by the most in 28 years, Fed chief Jerome Powell could steal the limelight again in the [..]

Technical Analysis – AUDUSD pauses post-FOMC rally, but bulls may persist

Posted on June 16, 2022 at 7:48 am GMT

AUDUSD has not successfully entered the 0.7000 zone yet despite its impressive post-FOMC rally, which lifted the price by almost 2.0% to 0.7034. The 23.6% Fibonacci retracement of the 0.7660 – 0.6828 downleg was another struggle yesterday at 0.7024, though the latest big green candlestick seems to be part of a bullish engulfing pattern: an encouraging sign that the rebound could gain more legs in the near term. The upside reversal in the RSI and the Stochastics is sending positive vibes as well, though [..]

Technical Analysis – AUDUSD halts decline as bearish pressures wane

Posted on June 15, 2022 at 10:59 am GMT

AUDUSD has been experiencing a sharp downtrend after it failed to jump above the 0.7282 level in early June. Although the pair has managed to find its feet in the last couple of four-hour sessions, the descending 50-period simple moving average (SMA) is closing the gap with the 200-period SMA, where a potential violation could reinforce the case of a sustained downside trajectory. The momentum indicators reflect a cautiously positive near-term bias. Specifically, the stochastic oscillator is ascending steeply, while the MACD histogram has jumped [..]

Australian employment report comes out after RBA raises rates; aussie loses ground – Forex News Preview

Posted on June 14, 2022 at 1:37 pm GMT

The Australian dollar has been in a downward move over the last five days ahead of the employment data for May, which is due out on Thursday at 01:30 GMT and is expected to garner significant attention. Following the interest rate hike of 50 basis points in June’s meeting, a decrease of the unemployment rate is predicted to help the aussie to rise above $0.7000. Unemployment rate is predicted to fall further In April 2022, Australia’s unemployment rate remained at 3.9%, unchanged from a downwardly revised figure, despite a solid [..]

Daily Market Comment – ECB stokes recession, debt fears; dollar rally cools but stocks struggle still

Posted on June 10, 2022 at 9:18 am GMT

Hawkish ECB spurs Eurozone yields to multi-year highs but euro flounders Dollar reclaims FX crown as all eyes now turn to US CPI report Growth and inflation worries dog equities but China bucks trend despite new lockdowns ECB joins global inflation fight, roils markets The European Central Bank laid out a path to terminating all asset purchases and launching a series of rate hikes on Thursday as it sharply raised its inflation forecasts. But although the move was widely expected [..]

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