FX Trading News & Strategies from Australian Stock Report
Since bottoming out around 1.9750 in mid-April, the GBPSGD has rallied sharply and is now challenging the late-March and 2012 high at 2.0160. We are bullish on the pair, noting that the shorter-term EMAs are crossed higher and diverging and that the price action is above the longer-term EMA filter, which is positive. The key [...]
Amid stronger international equities and commodities the Aussie dollar put in a mixed performance on Friday night. The AUDUSD shed 0.2% to settle at 1.0358 at Friday morning’s NY close, whilst the AUDJPY put on 0.2% to settle at 85.76. Over the weekend, a stronger reading for a Chinese manufacturing gauge failed to end predictions [...]
After some solid gains in the previous session, global equities and commodities were softer overnight. As such, risk currencies were also weaker. The Aussie dollar was no exception, with our commodity based currency slipping against most of its major peers. The AUDUSD shed 0.7% to settle at 1.0460 at this morning’s NY [...]
Through the first few weeks of the New Year the Aussie dollar enjoyed an aggressive run higher against the euro. Unfortunately we weren’t around whilst this rally was occurring and since we’ve returned the price action has rolled off the highs. Whilst the current weakness might take a little longer to play out, the underlying [...]
Despite staging a modest rally last week, the AUDNZD appears to be facing stiff technical resistance. The price action has respected a downtrend resistance line that has been in place since early-July and, more recently, failed to clear the 125-day EMA. The pair is now approaching a key support region around 1.2530. A break below [...]
Australian Dollar FX Trading Commentary: December 20
The Aussie dollar lost ground overnight, moving lower in line with international equities after ECB President Draghi made cautious comments about the state of Europe’s economy and Fitch threatened to downgrade France and six Aother eurozone countries. The local unit shed 0.8% against the greenback, slipping below the 0.99 handle to 0.9887 at the NY [...]