FX Trading News & Strategies from Australian Stock Report
Currency markets were mixed on Friday night, with the US dollar grinding higher against a number of its major rivals following another strong non-farm payrolls report. The Aussie dollar put in a mixed performance, rising against the yen as global stocks rallied after the US economy added a greater-than-expected 227,000 jobs in February. However the [...]
The Aussie dollar is starting to turn bullish once more but there is significant resistance overhead. The area to watch over the next few sessions is noted in the 1.0670-730 region. This area has acted as a swing point amongst the recent chop and could cap any further advance. Below the current market price support [...]
Much of the recent run up in risk over recent weeks was undone overnight, with equities, commodities and risk currencies being belted across the board in a fire sale. The Aussie dollar was hammered, with the AUDUSD shedding 1.1% to settle at 1.0558, whilst the AUDJPY gave up 1.8% to settle at 85.36. [...]
The bias for USDCAD is bearish. The shorter-term EMAs are crossed lower and diverging and the price action is below the longer-term EMA filter, which is negative. We note a series of lower peaks, highlighted by the downtrend resistance line we have drawn on the chart. Resistance is now noted at 1.0050 and the price [...]
The bias for the AUDUSD remains bullish. The rally over the previous few sessions should mean the completion of the recent pullback and support building phase. The pair is now in a position to retest the previous major high from last July, at 1.1080. Below the current market price, support is noted at 1.0790 and [...]
Amid stronger equity markets and mild risk-on sentiment, the Aussie dollar pushed higher overnight. The Aussie reached a one-week high against the greenback ahead of the ECB beginning its longer-term refinancing operation tonight to help shore up the region’s banks. The AUDUSD added 0.2% to settle at 1.0771 at this morning’s NY close, whilst the [...]
It was a funny old night for markets last evening, with weakness in Europe and early in the US session suddenly reversed following the release of better-than-expected US housing data. Currency markets experienced an equally volatile ride, as traders switched out of safe havens and back into risk currencies at breakneck speed. When it [...]
The immediate bias for the EURUSD is bullish. Pressure is likely to remain to the topside and traders should be on the lookout for a move into the 1.3570 – 1.3630 region. Below the current market price, support is noted at 1.3350 initially, followed by 1.3270. If the bullish bias is to remain in [...]
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 [...]
Currency Trading Commentary: March 14
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 [...]