All Articles Tagged - AUDUSD

China PMIs could drive aussie lower after fresh lockdown restrictions – Forex News Preview

Posted on March 29, 2022 at 1:20 pm GMT

The risk-sensitive Australian dollar will keep an eye on the March non-manufacturing PMI and NBS manufacturing PMI out of China on Thursday at 01:30 GMT. The Caixin Manufacturing PMI will be released a day later at 01:45 GMT. The PMIs will be in the spotlight for traders this week after China has announced its biggest city-wide lockdown on Sunday since the Covid outbreak began. China’s manufacturing growth may slow down After dropping to 49.1 in January, the Caixin Manufacturing PMI unexpectedly rose to 50.4 in February, exceeding the market consensus of 49.3 points and recovering [..]

Technical Analysis – AUDUSD battles with 0.7500, adding optimism for further gains

Posted on March 29, 2022 at 6:23 am GMT

AUDUSD stretched its two-week rally to a five-month high of 0.7540 before pulling slightly lower. The RSI seems to be gaining momentum above its neutral threshold of 50, while the stochastic oscillator posted a bullish crossover within its %K and %D lines. However, the Ichimoku lines capped the current market action, acting as strong resistance lines. The market trend, though, is likely to hold on to the upside as long as the price holds far above its 200-period simple moving average (SMA) [..]

US Open Note – Yen dives sharply as BoJ buys unlimited bonds; oil back below 110

Posted on March 28, 2022 at 12:53 pm GMT

Dollar/yen rises to a fresh 6-year high The Bank of Japan reaffirmed its support for its Yield Curve Control aim; a statement of its dovishness. A record was set by offering limitless 10-year JGB purchases for three consecutive days at the YCC trading band’s upper limit of 0.25%. As of February 14, this was the BOJ’s first action since 2018, which marked the beginning of such purchases. According to the BoJ, the three-day operation was aimed to bolster YCC, and the timetable and amounts might [..]

Week Ahead – Euro/dollar braces for US jobs and European inflation

Posted on March 24, 2022 at 3:59 pm GMT

The Fed keeps warning it will need to roll out the big guns in its battle against inflation. Traders have priced in faster rate increases to reflect this shift but the dollar hasn’t really benefited. Instead, it is the yen that has suffered. The coming week includes inflation stats from Europe and employment numbers from America, which combined could decide what’s next for euro/dollar. Fed leads the pack Fed officials are saying they are prepared to do whatever it takes [..]

Technical Analysis – AUDUSD finds resistance at 4-month high above 0.7500

Posted on March 24, 2022 at 9:35 am GMT

AUDUSD has risen to a fresh four-month high of 0.7506. Since January 28, the pair has been moving upwards; however, the RSI indicator is pointing down and the stochastic oscillator is looking overbought, crossing the %K and %D lines to the downside. The 0.7555 resistance level from October 2021 would likely limit further gains. If this area is successfully broken, further resistance could be found at 0.7775, which was congested in June 2021. The psychological 0.7900 level, a May 2021 [..]

Technical Analysis – AUDUSD eases from 4-month high; still above rising trend line

Posted on March 23, 2022 at 1:45 pm GMT

AUDUSD is showing some improvement as it climbed to a new four-month high of 0.7480 earlier in the day. The pair has been developing within an ascending move since January 28 with the RSI indicator pointing up in the positive region. However, the stochastic oscillator is looking overbought as it posted a bearish crossover within the %K and %D lines. Immediate resistance to further gains would likely come from the 0.7555 barrier, registered in October 2021. If there is a [..]

Technical Analysis – AUDUSD tests 200-day SMA and 0.7300 mark

Posted on March 17, 2022 at 8:12 am GMT

AUDUSD rebounded off the short-term ascending trend line, currently flirting with the 200-day simple moving average (SMA) around the 0.7300 psychological mark. As regards the technical indicators, the RSI is strengthening its bullish move above the neutral threshold of 50, while the stochastic is extending its upside move higher, after the bullish crossover within its %K and %D lines. Immediate resistance could come from the 0.7365 barrier before the focus turns to the 0.7440 level. If buying interest persists, the price could rally towards the 0.7555 hurdle, [..]

Australian employment report may help aussie to shine – Forex News Preview

Posted on March 15, 2022 at 3:08 pm GMT

In mature economies, labor market conditions have gotten tighter. A healthy economy and low unemployment meant that there was a lot of demand for workers. On Thursday, at 00:30 GMT, Australia will announce its employment report and the picture is expected to return close to or just below pre-pandemic levels, helping the aussie to show some positive action again. For the third month in a row, the unemployment rate surprised to the upside. After a strong growth of 366.1k in November, a good gain of 64.8k in [..]

Technical Analysis – AUDUSD halts decline but negative forces linger

Posted on March 15, 2022 at 9:15 am GMT

AUDUSD has been experiencing a sharp drop in the last four-hour sessions , crossing below both its 50- and 200-period simple moving averages (SMAs). Although the pair managed to pause its downfall, the technical picture endorses a bearish immediate-term bias. The short-term oscillators suggest that negative forces remain in control. The MACD histogram is currently below both zero and its red signal line, while the RSI is ticking slightly up in the negative zone after rebounding from the oversold area. [..]

Technical Analysis – AUDUSD’s near-term bullish tone takes a hit

Posted on March 14, 2022 at 4:43 pm GMT

AUDUSD’s recent climb that began from the 18½-month low of 0.6967 is exhibiting optimism above the potential diagonal support, pulled from the 0.6967 trough, despite the retreat in the pair back beneath the 200-day simple moving average (SMA) at 0.7302. The converging SMAs are endorsing a more neutral trend in the pair for now. Currently, the Ichimoku lines are suggesting unclear driving forces, while the short-term oscillators are skewed to the downside. The MACD, in the positive area, has slid [..]

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