All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD posts some bearish correction in short term

Posted on April 7, 2022 at 7:25 am GMT

AUDUSD is retreating after the aggressive jump towards the ten-month peak of 0.7660 in the previous days. The price reversed back towards the 0.7470 support, having failed to ease below it over the last two weeks. The MACD oscillator dropped beneath its trigger line in the positive region, while the RSI is slowing momentum in the bullish territory. Further declines may meet support around the 0.7440-0.7470 zone, which encapsulates the 20-day simple moving average (SMA). Even lower, support could occur around the 0.7365 barrier, which holds around [..]

Technical Analysis – AUDUSD’s bullish bias intact despite pullback

Posted on April 6, 2022 at 2:51 pm GMT

AUDUSD is resting on the 0.7531-0.7555 support band that includes the mid-Bollinger band after retreating from its nine-and-a-half-month high of 0.7661. The advancing simple moving averages (SMAs) are endorsing the uptrend that began at the beginning of February. Meanwhile, the short-term oscillators currently suggest that positive drive is evaporating. The MACD, in the positive section, is weakening beneath its red trigger line, while the RSI is falling towards the 50 threshold. That said, the stochastic lines are in oversold territory, [..]

US Open Note – Market risk-off vibe portrays subtle volatility

Posted on April 5, 2022 at 1:45 pm GMT

Dollar benefits from rising yields; US ISM Services PMI eyed As things stand, the current driving impulses seem to be having an insignificant effect on markets heading into tomorrow’s FOMC minutes. The markets’ response remains muted also to the growing possibility that new economic sanctions on Russia from the West may be in the pipeline considering the fresh suspected atrocities in Ukraine, as they intend to isolate Moscow and hinder it from meeting its debt payments. Nonetheless, a subdued picture [..]

Technical Analysis – AUDUSD unlocks new 10-month high, stretching the bullish rally

Posted on April 5, 2022 at 1:30 pm GMT

AUDUSD is creating an impressive rally today, unlocking a fresh ten-month high of 0.7638. The rebound off the 18-month low of 0.6965 drove the pair towards a new bullish wave, with the technical indicators confirming the positive bias. The RSI is crossing above the 70 level, while the MACD is extending its positive momentum above its trigger line in the positive territory. An extension to the upside and above the intraday day could meet the area of the June 2021 high at 0.7775. [..]

Daily Market Comment – Euro pinned down by threat of new sanctions

Posted on April 5, 2022 at 9:02 am GMT

Europe considers new sanctions against Moscow after atrocities Euro under pressure, oil prices recover despite China lockdowns Aussie shoots up after RBA, tech shares lead Wall Street higher Russian embargo? The prospect of another round of economic sanctions against Moscow is back on the table following reports of atrocities against civilians in Ukraine. The US Treasury has already made its move – cutting off the Russian government from using its ‘frozen’ US dollar reserves for making coupon payments on bonds. [..]

US Open Note – US stock futures lose upside momentum as market sentiment thins

Posted on April 4, 2022 at 1:47 pm GMT

Higher yields aid dollar, while euro remains heavy even as CPI spike jolts ECB A risk-off vibe seems to have overshadowed US stock futures as positive sentiment is lacking at the start of this week. The S&P 500 has managed to hold above its 200-day simple moving average (SMA) around 4,550, while the Dow Jones 30 and Nasdaq 100 composites have stabilized after a pullback below their respective longer-term 200-day SMAs at 35,057 and 15,167. Higher US yields are underpinning [..]

Daily Market Comment – Solid US employment report carries dollar higher

Posted on April 4, 2022 at 9:08 am GMT

Dollar grinds higher as traders step up Fed bets after jobs numbers Stocks struggle for direction, lots of conflicting signals to digest Euro finds no solace from sizzling inflation, RBA decision next Dollar smiles after jobs data The US labor market put in another impressive performance in March. Nonfarm payrolls clocked in at 431k as hiring remained strong, the unemployment rate fell to 3.6%, and more workers returned to the labor force thanks to the allure of rising wages. Quite [..]

Week Ahead – Fed and ECB minutes eyed as Ukraine war rages on, RBA to stand pat

Posted on April 1, 2022 at 11:16 am GMT

The minutes of the Federal Reserve’s and European Central Bank’s last policy meetings will likely grab the chunk of investors’ attention next week as the economic agenda quietens down somewhat. The Reserve Bank of Australia is not anticipated to announce any policy shifts at its meeting, but Canadian employment numbers might boost expectations of a 50-basis-points rate hike by the Bank of Canada. However, the evolving geopolitical situation with Ukraine will probably once again be a more important driver for [..]

Technical Analysis – AUDUSD bullish bearing eases a little, minor uptrend intact

Posted on March 31, 2022 at 9:10 am GMT

AUDUSD’s fresh pullback from the October 2021 area of highs looks to be finding support from the red Tenkan-sen line within the 0.7431-0.7474 zone (previous resistance-now-support). The steadier 200-day simple moving average (SMA) and the upturn in the slopes of the 50- and 100-day SMAs indicate that the minor uptrend, which began from the 18½-month low of 0.6967, is gradually pacing higher. Meanwhile, the Ichimoku lines suggest positive forces are active, while the short-term oscillators reflect the latest dwindling in [..]

US Open Note – Russia-Ukraine peace talks remain in focus; US ADP figure rise and GDP revised slightly down

Posted on March 30, 2022 at 1:01 pm GMT

US ADP and GDP figures come out The ADP employment figure was the main release out of the US today. Private payrolls rose by 455K people in March, slightly over market expectations of 450K and it follows an upwardly revised 486K in February. As a result, the unemployment rate is predicted to fall to 3.7% in the NFP report on Friday, while average hourly earnings are expected to increase by a few percentage points year-on-year, to 5.5%. The consensus forecast is for 490k jobs in March, down from 678k in [..]

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