FX Trading News & Strategies from Australian Stock Report
The bias for the EURUSD is bearish. The shorter-term EMAs have crossed lower and are diverging, and the price action has extended away from the longer-term EMA filter, which is negative. The price action is also on the verge of breaking down below a key horizontal level which, if breached, could induce further [...]
The risk on trade was back in vogue overnight, with higher yielding currencies in hot demand amid hopes for further monetary easing by global central banks. Traders shrugged off concerns over Europe and instead cheered comments by two Fed officials that the US interest rates would remain low until 2014. Comments by a [...]
The current decline on the AUDJPY at this stage represents nothing more than a pullback within a broader uptrend. The uptrend is yet to be violated and there is potentially strong support noted at 86.00-10 which could hold up the current rotation lower. If this region gives way however, expect a move into 85.00. In [...]
There is the possibility that the high last month, around 1.3500, completed the recent recovery phase from the January lows. If the price action moves below 1.2970 then a retest of the January low, at 1.2620-30 will be a likely scenario. Above the current market price, resistance is noted initially at 1.3180-90. If the pressure [...]
The AUDUSD added 0.7% to settle at 1.0703 at this morning’s NY close, whilst the AUDJPY gained 0.2% to settle at 85.55. During today’s Asian session the Aussie has continued to climb, extending its second consecutive weekly advance amid comments by RBA Governor Glenn Stevens that the monetary policy is “about right’, which reduced [...]
The bias for the USDCHF is bearish. We note a downtrend, characterised by a series of lower highs and lower lows, highlighted by the yellow line on the chart above. The shorter-term EMAs are crossed lower and diverging and the price action is below the longer-term EMA filter, which is negative. Whilst we are bearish, [...]
Risk appetites waned overnight despite the Greek debt deal finally getting over the line. It seemed to be another case of ‘buy the rumour, sell the fact’, with traders booking profits after the recent run up in risk assets. The Aussie dollar was not spared, slipping against both the greenback and the yen. [...]
The Aussie dollar put in a mixed performance on Friday night, losing ground against the greenback but advancing strongly against the yen. The local unit rallied 1.2% against its Japanese counterpart to settle at 85.20 at Saturday morning’s NY close but slipped 0.3% against the US dollar to finish at 1.0717. During today’s Asian session [...]
The Aussie dollar put in a mixed performance overnight, losing ground against the greenback but gaining against the yen amid mixed equity markets. The local unit shed 0.4% against the greenback to settle at 1.0700 at this morning’s NY close and advanced 0.7% against the yen to settle at 83.83. Today the Aussie has firmed [...]
Currency Trading Commentary: March 16
The greenback was broadly weaker in the overnight session, with traders instead bidding up riskier assets following a set of positive US economic data. The Empire State manufacturing index rose from 19.53 to 20.21 in March – the highest since June 2010, whilst the Philadelphia Fed index rose from 10.2 to 12.5 in March [...]