Tag Archives: AUD/USD
FX Daily Majors
Today’s highlights: EURUSD spotlight remains on its 200-day average at 1.3635, below which can add weight to a large bearish “wedge” scenario.
Daily Technical Report
EUR/USD successfully tested the strongsupport at 1.3643 (see also the 200 day movingaverage) yesterday. However, a break of theinitial resistance at 1.3732 is needed to confirm ashort-term exhaustion of the selling pressures.
The Global Macro Pulse
Within the G10, AUDUSD has outperformed, opening weak, but rallying after the China PMI to 0.9266. USDJPY has pushed up to 101.65 and EURUSD is marginally lower at 1.3674.
UBS Morning Adviser
Core-headline inflation divergence apparent, but no policy response (yet) For many central banks targeting the elimination of spare capacity,
AUD/USD Analysis
Aussie was the main beneficiary of the surprisingly upbeat HSBC flash PMI reading out this morning. Aussie-dollar opened at $0.9251 and spent the early hours drifting lower, in part due to the broader US dollar strength.
AUDUSD – sitting on critical .9203 support ; a-b-c zigzag targets .9160
There are a few scenarios brewing in Aussie but the gut reaction at first look is that the recent channel break is part of a bull flag correction unfolding as zigzag wave-(4).
Asian Currencies Technicals
The move lower continued on Wednesday with it having paused ahead of the May 2 low so far. Bears remain firmly focused on a break lower that initially targets the 200-DMA and then the 100-DMA.
Daily Technical Report
EUR/USD has made a bullish intraday reversalnear the key support area between 1.3673 (seealso the long-term wedge formation) and 1.3643(see also the 200 day moving average).
Commerzbank AUD/USD View
Commerzbank enters a short AUD/USD at market as a technical trade recommendation with a stop at 0.9310, and a target at 0.9060. CB plans to add to this short at 0.9275.
FX Daily Majors
Today’s highlights: USDJPY continues to threaten an important top, with a break below 100.75 needed to confirm.
The Global Macro Pulse
USDJPY broke lower to 101.15 even as EURUSD traded flat at 1.3702. AUDUSD edged lower to 0.9233. Most EM Asia currencies softened modestly against the dollar.
UBS Morning Adviser
US Investors’ Overseas Interest Narrowing We have long held the view that US investors’ global allocation is a big marginal driver for the dollar.