AUDUSD prints mild gains around mid-0.6400s despite mixed outcomes of the Aussie employment report and the Reserve Bank of Australia’s (RBA) quarterly Bulletin. In doing so, the risk-barometer pair also cheers the US Dollar’s pullback, as well as cautious optimism in the market, while defending the previous day’s rebound from 78.6% Fibonacci retracement of October...
AUDUSD portrays a corrective bounce from the lowest level in a month, snapping a three-day downtrend, amid mixed data/events from Australia. Also allowing the Aussie pair to consolidate recent losses is the market’s reaction to the upbeat data from China, Australia’s biggest customer, as well as the below 50 levels of the RSI line. However, the bearish MACD...
AUDUSD struggles to defend the week-start recovery from an ascending support line stretched from early February as traders await the key US Durable Goods Orders and the Aussie inflation data, scheduled for Tuesday and Wednesday respectively. In doing so, the risk-barometer pair jostles with the 200-SMA hurdle surrounding 0.6555. It’s worth noting that the market’s...
AUDUSD stays on the way to posting a second consecutive weekly loss while reversing the post-FOMC rally. In doing so, the Aussie pair portrays a U-turn from an 11-week-old horizontal resistance surrounding 0.6640 amid a pullback in the RSI (14) line from overbought territory and a looming bear cross on the MACD. Also keeping the pair sellers hopeful is the clear...
AUDUSD appears well-set for biggest weekly loss in seven while extending the previous week’s U-turn from a 3.5-month-old horizontal resistance area surrounding 0.6675-80. The Aussie pair currently pokes the 200-SMA support near 0.6565 amid an impending bear cross on the MACD and a retreat in the RSI (14) line, which in turn suggests slower grind toward the south....
Market sentiment improved early Monday as China returned to trading after a week-long Lunar New Year holiday. With this, AUDUSD justifies its role as a risk barometer and cheers optimism at the biggest customer, namely China, by challenging a one-month-old bearish trend. However, the road towards the north appears long and bumpy before convincing the Aussie bulls....
AUDUSD prints the first daily gain in three while bouncing off the lowest level since mid-November after the Reserve Bank of Australia (RBA) kept the benchmark rates unchanged. The corrective bounce also justified the RSI (14) line’s rebound from the oversold territory. However, the bearish MACD signals and the previous week’s confirmation of the...
AUDUSD struggles to defend the bounce from a two-month-old rising support line and the 200-SMA amid softer Australia Consumer Price Index (CPI) data. Also attracting offers for the Aussie pair is the risk-off mood and an impending death cross on the four-hour chart, a bearish moving average crossover between the 50-SMA and the 100-SMA. It’s worth noting, however,...
AUDUSD edges higher past 0.6700 after posting the biggest weekly gains since the mid-November. In doing so, the Aussie pair defends Wednesday’s upside break of descending trend line stretched from early February, now immediate support near 0.6650. The resistance break joins upbeat RSI (14) to keep the buyers hopeful. However, the MACD signals appear less bullish...
AUDUSD drops nearly 50 pips even after the Reserve Bank of Australia (RBA) matches expectations of announcing a 0.25% rate hike. In doing so, the Aussie pair extends the previous day’s pullback from the 100-day SMA while poking a five-month-old horizontal support. It’s worth noting that the RSI (14) line’s retreat from the nearly overbought territory also suggests...
AUDUSD extends the previous day’s retreat from the weekly top towards the bottom line of a three-week-old descending triangle surrounding 0.6285, tested twice in October. It’s worth noting, however, that the RSI (14) line is nearly oversold and hence challenges the Aussie bears around the key support. The same highlights the probability of witnessing a bounce from...
AUDUSD holds lower grounds near 0.6335, close to the yearly low marked last week, after the Reserve Bank of Australia (RBA) left its cash rate unchanged as expected. It’s worth noting that the RBA Rate Statement appeared a bit dovish and hence allowed the Aussie bears to keep the reins, especially amid a broadly firmer US Dollar. Additionally, the bearish MACD...
AUDUSD breaks a three-week-old rising support line even as Australia’s Monthly Consumer Price Index (CPI) matches upbeat market forecasts for August with 5.2% YoY figures. The trend line breakdown joins bearish MACD signals to keep the Aussie pair sellers hopeful. However, the RSI (14) line is approaching the oversold territory and hence suggests a limited room...
Strong China data and a clear upside break of the 10-day SMA allow AUDUSD buyers to prod the resistance line of a five-week-old descending triangle on early Friday. Adding credence to the Aussie pair’s upside bias is the upward-sloping RSI (14) line, not overbought, and the bullish MACD signals. With this, the risk-barometer pair is likely to cross the immediate...
AUDUSD bulls struggle to hold the forte after posting the first weekly gain in seven on the Reserve Bank of Australia (RBA) Interest Rate Decision Day. That said, the Aussie pair trades within a three-week-old bearish triangle, staying below the convergence of the 100-SMA and 50-SMA surrounding 0.6450 on the key day. It’s worth noting that the steady RSI and...
AUDUSD bears ran out of steam during the sixth week of the downtrend by positing the slimmest losses since mid-July. Even so, the Aussie pair faded bounce off a downward-sloping support line from early March, not to forget staying beneath a six-week-long descending resistance line. It’s worth noting that the nearly oversold RSI and the impending bull cross on the...
AUDUSD bears take a breather after a five-week downtrend, portraying a falling wedge bullish chart pattern around the yearly low. Adding strength to the hopes of recovery is an upward-sloping RSI line, not overbought, as well as the bullish MACD signals. However, an area comprising multiple lows marked since late May, around 0.6460-70, restricts the short-term...
A daily closing beneath a nine-month-old rising support line, now resistance around 0.6480, keeps the AUDUSD bears hopeful of witnessing further downside even as the oversold RSI conditions prod the immediate declines. That said, the 78.6% Fibonacci retracement of October 2022 to February 2023 upside, near 0.6380, checks the bears while the last November’s bottom...