All Articles Tagged - AUDUSD

Week Ahead – ECB set to hold rates, plethora of data on the way

Posted on July 12, 2024 at 10:03 am GMT

ECB is not expected to cut in July but will it signal one for next meeting? Retail sales will be the main highlight in the United States UK CPI report will be vital for BoE’s August decision China GDP data to kickstart busy week ECB meets amid sticky inflation The European Central Bank concludes its two-day policy meeting on Thursday but no change in interest rates is anticipated after trimming them by 25 basis points at last month’s gathering. The [..]

Midweek Technical Look – EURUSD, AUDUSD, GBPJPY

Posted on July 11, 2024 at 10:11 am GMT

EURUSD still finds strong support at 1.0800 AUDUSD posts new 6-month high GBPJPY records extraordinary bullish rally towards uncharted levels [..]

Technical Analysis – AUDUSD posts a fresh 6-month high

Posted on July 11, 2024 at 7:47 am GMT

AUDUSD breaks decisively above sideways pattern The price jumps to its highest since January 2024 Oscillators are flagging overbought conditions AUDUSD had been trading in a neutral range for more than two months, unable to adopt a clear directional impetus. However, in the last few sessions, the bulls have managed to propel the pair above that rangebound structure, sending it to a six-month high on Thursday. If the pair marches towards fresh highs, there is no prominent resistance until the December 2023 [..]

China’s problems could cloud RBA’s hawkish intentions – Preview

Posted on July 8, 2024 at 7:18 am GMT

China to gain more airtime this week The ailing housing sector and the bond rally in focus RBA remains hawkish, but consumer appetite is critical Aussie benefits from dollar weakness Market’s focus could turn to China this week The post non-farm payrolls week tends to be a quiet one as the market digests the latest developments and prepares for the next risk events. Accordingly, the calendar is less impressive this week apart from Fed Chairman Powell’s testimony on Tuesday and Thursday’s US [..]

Technical Analysis – AUDUSD records new 6-month high

Posted on July 5, 2024 at 11:18 am GMT

AUDUSD posts bullish days above descending channel 20- and 50-day SMAs slope up MACD and RSI confirm upside move AUDUSD is skyrocketing towards a fresh six-month high of 0.6737, breaking the downward sloping channel to the downside and surpassing the 0.6710-0.6730 region. Technically, the MACD oscillator leapt above its trigger and zero lines, while the RSI rises above its neutral threshold of 50. The 20- and 50-day simple moving averages (SMAs) are pointing upwards as well. The next resistance level [..]

Technical Analysis – AUDUSD challenges upper limit of its range

Posted on July 4, 2024 at 7:37 am GMT

AUDUSD attempts to break above sideways structure Oscillators are heavily tilted to the bullish side AUDUSD has been trading sideways for more than a month now, unable to adopt a clear directional impetus. However, in the last two sessions, the bulls have been testing the upper end of the neutral pattern, where a decisive break could trigger a sharp move to the upside. If buying pressures persist and the price closes above 0.6713, the recent resistance of 0.6732 could prove to be [..]

Technical Analysis – AUDUSD posts several sessions of gains

Posted on July 3, 2024 at 9:23 am GMT

AUDUSD develops in an upward sloping channel RSI and MACD continue the upside move AUDUSD is creating several green 4-hour sessions after the bounce off the 200-period simple moving average (SMA). The pair has been trading within an ascending channel since June 17, with immediate resistance at 0.6687 that failed a couple of times to break it. Technically, the RSI indicator is standing above the neutral threshold of 50 with strong positive momentum, while the MACD is holding above its [..]

Investors await NFP to validate their Fed rate cut bets – Preview

Posted on July 3, 2024 at 7:05 am GMT

Investors expect two rate cuts, even though Fed signals one Recent data corroborates investors’ take Nonfarm payrolls waited for more confirmation The report comes out on Friday, at 12:30 GMT Fed appears hawkish, but data paint a different picture At its latest gathering, the FOMC appeared more hawkish than expected, revising its interest rate projections from three quarter-point reductions by the end of the year to just one. That said, the softer-than-expected CPI numbers a few hours ahead of [..]

Week Ahead – French and UK elections on the horizon, US jobs report eyed too

Posted on June 28, 2024 at 10:32 am GMT

France and UK go to the polls; will elections bring chaos or order? US payrolls report for June awaited as Fed hawks don’t budge Eurozone CPI, Fed minutes and ECB forum also on investors’ radar Macron’s gamble set to backfire Political risks came back to haunt the euro in June as the resurgence in popularity for far-right parties sparked jitters in financial markets. France has been at the centre of this resurgence where Marine Le Pen’s National Rally party is [..]

Market Comment – Core PCE in focus ahead of French elections

Posted on June 28, 2024 at 8:16 am GMT

Dollar gains after first presidential debate Focus today turns to core PCE inflation Yen slides, intervention risks rise French citizens head to the ballots on Sunday Trump election win bets support dollar The US dollar traded slightly lower against most of its major peers on Thursday, extending gains only against the yen and the franc. That said, the greenback is on the front foot again today, gaining the most ground versus the aussie and the kiwi. What helped the dollar [..]

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