All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD ticks up after finding support at 0.7090

Posted on December 20, 2021 at 12:06 pm GMT

AUDUSD found strong support at the 0.7090 barrier after several red sessions. The RSI is also pointing upwards in the negative territory, while the MACD is still falling below its trigger and zero lines. The 20- and 40-period simple moving averages (SMAs) are flattening around 0.7150 and are acting as strong obstacles. Immediate resistance hurdles are the short-term SMAs at 0.7150 ahead of the 200-period SMA at 0.7215 and the 0.7224 barrier. A successful break above these hurdles could drive the bulls until the 0.7370 [..]

US Open Note – Dollar flattens after busy week; lira plummets

Posted on December 17, 2021 at 2:00 pm GMT

FX market in the spotlight After a very busy week with numerous central bank meetings, the week is ending with a bearish mode. The dollar index continues its sideways movement around 96, while dollar/yen is heading south approaching the 113.00 round number. The euro rally peaked near $1.1350 and is now trading near $1.1300, while sterling has given up much of its post-BoE gains and is trading below $1.33. US futures are suggesting a negative open today. Central banks sum up The Fed’s shift to a more hawkish stance [..]

Week Ahead – With the central bank mayhem out of the day, the festive wind down begins

Posted on December 17, 2021 at 10:51 am GMT

After a super exciting week, things will wind down significantly in the run up to the Christmas weekend, with the biggest risk for traders likely being suffering from post-central bank blues. Out of all the meetings, the Fed’s announcement undoubtedly had the largest bearing on the markets, whipsawing the dollar. But the bumpy times may not be over just yet for the greenback as the US agenda is the busiest in an otherwise quiet week. Meanwhile, stocks could get an [..]

Technical Analysis – AUDUSD extends bounce formed within key support

Posted on December 16, 2021 at 12:01 pm GMT

AUDUSD is climbing higher above the mid-Bollinger band at 0.7145 after rebounding at a 13-month low 0.6992, reached on December 3. That said, the downward gliding simple moving averages (SMAs) are defending the matured decline from the more than three-year high of 0.8006. The short-term oscillators are revealing waning in negative momentum as buying interest is bolstered. The MACD, in the bearish region, is distancing itself above its red trigger line, while the RSI is nudging above the 50 threshold. [..]

Technical Analysis – AUDUSD meets support at 50-SMA; bearish forces linger

Posted on December 15, 2021 at 8:44 am GMT

AUDUSD has powered back from its early December low, crossing above the 50-period simple moving average (SMA) and breaking its previous series of successive lower highs. However, the cautiously bearish outlook for the pair is maintained as the price is trading well below its 200-period SMA. Short-term momentum indicators are reflecting a negative bias for the pair, as the RSI is located below its 50 neutral mark, while the MACD is found below zero and its red signal line. Should the pair cross [..]

Technical Analysis – AUDUSD struggles to gain extra ground, bearish risks grow

Posted on December 13, 2021 at 3:13 pm GMT

AUDUSD’s bullish forces are diminishing ahead of a potential restrictive trend line, pulled from the near four-month high of 0.7555. The longer-term 100- and 200-period simple moving averages (SMAs) are backing the downtrend, while the flatlining 50-period SMA is hinting that the one-week climb from 0.6992 is vulnerable. The short-term oscillators are leaning towards the downside. The MACD, in the positive region, is falling beneath its red trigger line, signalling that the positive momentum is fading. The strong bearish charge [..]

US Open Note – Stocks give up ground amid covid curbs; pound remains muted near 2021 lows

Posted on December 9, 2021 at 3:02 pm GMT

Equities take a breather European stock indices returned to negative territory as infections remained elevated in the region and governments reintroduced new mild measures to counter the spread of the omicron variant despite drug makers defending the efficacy of their vaccines in the past few days. Energy shares drove losses in the pan-European STOXX 600, but the decline is moderate so far in the day, and negligible compared to Monday’s impressive rally. Likewise, the UK’s FTSE 100 pulled below yesterday’s [..]

Daily Market Comment – Equities stay cheery but dollar creeps up, pound hits new low

Posted on December 9, 2021 at 10:11 am GMT

Stock market party continues as virus risks sidestepped, though US futures dip slightly But Omicron begins to bite as UK’s Johnson brings in Covid Plan B, pound takes a knock Loonie also slips as BoC cites Omicron danger; all eyes now on US inflation data Stocks remain optimistic but rally cools There were few signs of worry about the Omicron outbreak in equity markets as traders remained hopeful that the economic disruption from this new variant will be kept to [..]

Technical Analysis – AUDUSD short-term outlook brightens; next target at 0.7200

Posted on December 9, 2021 at 8:18 am GMT

AUDUSD surged above the steep 6-week-old descending trendline and the restrictive red Tenkan-sen line on Wednesday, raising hopes that the downward pattern has finally found a bottom and it’s time for a bullish reversal. The momentum indicators witness improvement in buying sentiment as the MACD is distancing itself above its red signal line, the Stochastics slope upwards, and the RSI is ramping up to meet its 50 neutral mark. Yet, today’s resistance around the 20-day simple moving average (SMA) at [..]

Daily Market Comment – Stocks soar as markets look past Omicron; BoC meeting eyed

Posted on December 8, 2021 at 9:55 am GMT

Optimism prevails as investors see glass half full over Omicron threat Asia lifted by Wall Street jump but futures point to some easing in rally FX markets mostly steady, loonie at 2-week high ahead of BoC decision Fading Omicron risks boost sentiment Pre-Christmas cheer came early for equity markets as investors celebrated the growing view that the newly discovered Omicron variant is not more dangerous than the Delta strain. Early evidence suggests that Omicron causes less severe illness than the [..]

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