Tag Archives: AUD/USD
FX Market Technical Research
EUR/USD has now dropped right through the 1.2457 March 2009 low and is on is way to the 1.2329/06 support zone. This consists of the 2008 trough and the 2001-12 uptrend line. Medium term the 200 month moving average at 1.2066 and the psychological 1.2000 mark remain in sight.
AUD/USD Analysis
AUD/USD opened the Asian session around $0.9705 and has so far traded in a $0.9674/$0.9719 range. After some moderate exporter buying interest that saw the rate trade to intra-day highs of $0.9719, sellers soon appeared with the rate breaking through $0.9700 following comments by Australian Treasury Secretary Martin Parkinson on Australian deficit.
Daily FX Technical Strategy: EUR suffers from US antipathy
US investors returned from their long weekend and resumed trading as they had left off the week before: selling the euro and buying the dollar. Eurozone troubles remain a clear concern and with the euro sliding to a new 2012 low for the year today against the USD, CAD and TRY, near-term risks are for […]
Behavioral Finance: Daily Forex Outlook: Eurozone is not the only risk to the UK economy
EUR USD (1.2465) Spanish bond yields are again hovering near the seven percent levels which make it difficult for the government to plan any sustainable borrowing. The Spanish plan to recapitalise Bankia through an equity-bond swap also becomes more expensive and the idea has found little resonance with the ECB.
FX Market Technical Research
EUR/USD has continued to slide and has sold off to the 1.2457 March 2009 low. Despite the fact that the RSI has not confirmed the new low, despite the 13 TD combo count and the 5th of 5th wave count, the market continues to weigh on the downside.
AUD/USD Analysis
AUD/USD opened in Asia around $0.9847 and has been observed in a range of $0.9775/$0.9856 so far. The rate ground off early to levels of around $0.9811 pressured by risk aversion and evaporating hopes for a Chinese stimulus package.
Daily FX Technical Strategy: EUR crosses take the strain
Evidence for a short term risk respite continues to mount… outside the eurozone that is. A reversal day in the Shanghai Composite implies further near-term upside potential and this is reflected in the commodity currencies where momentum is calling for a corrective bounce. Spanish problems, though, continue to be a drag making euro cross trades […]
Behavioral Finance: Daily Forex Outlook: Euro buoyed by profit-taking
EUR USD (1.2535) Even as the IMF’s chief reiterated the significance of tax collection and tourist revenues for the Greek economy, it is any hint at the colour of the likely coalition after next month’s election that causes markets to pay attention.
FX Market Technical Research
EUR/USD saw a very tepid rebound on Monday. The new low of 1.2495 charted last week has not been confirmed by the daily RSI and this suggests caution here and some near term consolidation.
AUD/USD Analysis
AUD/USD opened in Asian around $0.9855 and has been seen in a range of $0.9802/58 so far. The rate was subject to some early selling pressure, thought to be from a custody bank, with a sharp move lower from $0.9845 down to session lows of $0.9802 observed in the early part of Asian traded hours.
Daily FX Technical Strategy: Fear fatigue
Memorial Day in the US should keep trading subdued across markets today, but against this backdrop the outlook for commodity related currencies appears to be improving. USD/BRL, which was at the forefront of the recent risk rout, encountered profit taking last week; the AUD has also bounced and against the EUR appears poised to rally […]
FX Market Technical Research
EUR/USD sold off all week and closed below the 1.2530 Fibonacci retracement (just). The new low has not been confirmed by the daily RSI however and this suggests caution here and some near term consolidation.