Tag Archives: AUD/USD
FX Market Technical Research
EUR/USD will shortly encounter the top of the 7 month channel at 1.3457. this together with the February high at 1.3487 should provoke failure. Initial support is 1.3291, then 1.3237 (near term uptrend) and we suspect will have to fall below this latter level to alleviate immediate upside pressure.
AUD/USD Analysis
Opened in Asia at $1.0459 after trading down from $1.0558 to $1.0453 on some heavy leveraged and corporate supply particularly through the EUR, JPY and Canada crosses. There has been little change in tone this morning with further EUR/AUD demand weighing on the AUD and steady year-end yen demand pressing AUD/JPY lower.
Daily FX Technical Strategy: US Dollar dip helps prop up commodity currencies
Commodity prices are benefiting from the near-term dip in the US dollar. Brent crude has broken bullishly from its contracting range and copper looks set to follow suit, with a similar bullish set-up confirmed on a break above 8660. On the back of this, commodity currencies are also turning positive within range.
Technical Analysis – FX Daily Majors
Today’s highlights: · EURUSD: Clear break above 1.3292/94 negates any defensive bias for a more constructive tone, with risk to the 1.3487/3510 major resistance · GBPUSD: Eyes the Q1 recovery peak at 1.5991, through which opens the door to the Q4 (near 7-month) high, 1.6167 (interim hurdle 1.6090)
FX Market Technical Research
EUR/USD has eroded interim resistance at the 1.3291/1.3325 region (9th February high), and we would allow for an extension of the rally towards the top of the 7 month channel at 1.3463. this together with the February high at 1.3487 should provoke failure. Initial support is 1.3291, 1.3192.
AUD/USD Analysis
Opened in Sydney around $1.0533 after a sharp rally off yesterday’s european lows of $1.0426 on Fed Bernanke’s comments, which sparked risk on sentiment amid QE3 fears and led S&P to levels not seen since 2008. Commodity markets pushed sharply higher on a wave of USD weakness and AUD bounced to $1.0546 before running out […]
Americas FX Daily – Germany opens to compromise on firewall
Germany opens to compromise on firewall What happened overnight – Germany reportedly supporting temporary expansion of firewall – German Ifo surprises higher, at odds with PMI print
Behavioral Finance: Daily Forex Outlook: Prudence vs. exit strategy
EUR USD (1.3205) Last week investors managed to push the euro to the highest point (fractionally) in the last three weeks. But the sentiment towards the euro remains ambiguous. With Spanish 10-year bond yields rising again, the Italian PM warning about renewed contagion, and some prominent opinion-makers seeing the German Chancellor’s reticence to increasing the […]
European FX Daily – Chop ahead of the Ifo
– JPY underperforms, Asian equities mixed – A decline in the German IFO is likely to weigh on the euro – Further improvement in US activities likely supportive of USD rally
FX Market Technical Research
EUR/USD continues to probe the 1.3291/1.3325 region (9th February high), it remains fairly choppy but ideally we would like to see failure here. A sustained break below intraday support at 1.3140 and the 55 day ma at 1.3130 is needed to further alleviate upside pressure and initiate a slide back to the recent low at […]
Behavioral Finance: Daily Forex Outlook: Market sentiment is like the start of the year
EUR USD (1.3205) News of slowing output in China, as well as in the eurozone, appeared to sour the mood in the stock markets yesterday. Equity declines were not huge, at least not in context of the year-todate gains, but it seemed that investors’ had been mentally transported back to the beginning of 2012 when […]
Daily FX Technical Strategy: Spring cleaning
As the end of the first quarter looms large, we continue to see background evidence of profit taking across asset classes. At the end of a busy week we are looking for more signs to post today. The AUD looks most vulnerable to recent commodity price weakness with AUD/JPY looking almost certain to post a […]