FX Trading News & Strategies from Australian Stock Report
Whilst there is the possibility that the pullback phase is now in place, we would need to see some further follow through higher to confirm this. We note resistance through 1.3230-40, which needs to be cleared in order to maintain pressure to the topside. If 1.3230-40 is cleared, the next target region becomes 1.3430-40 initially, [...]
The key region to watch at the moment with regard to the EURUSD is the 1.3200-40 region. This price region has previously acted as both support (October and November last year) and resistance (December last year). The region also represents the 38.2% Fibonacci retracement level from the late-October high to mid-January low. In order for [...]
We recently outlined a Trading Idea on the AUDJPY, buying at 80.70 with stops at 78.60 and targets to 83.70. We followed up this commentary on 25 January, suggesting that those in longs trail their stop to 79.60. Since then, the pair has pressed higher, last night hitting a high of 82.90 before slipping back [...]
Amid weaker equity markets, the Aussie dollar put in a mixed performance overnight. The local unit added 0.4% against the yen to settle at 81.44 at this morning’s NY close, but gave up 0.6% against the greenback to settle at 1.0478. During today’s Asian session the Aussie has firmed, following the latest CPI figures which [...]
We covered the AUDJPY recently and outlined a Trading Idea to buy the pair on stop at 80.70, with stops at 78.60 and targets to 83.70. Those who followed this guidance and set orders would have been filled and would currently be around breakeven on their position. Overnight the currency pair made it up to [...]
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 [...]
Amid stronger equity markets the Australian dollar extended its recent advance overnight, as traders around the world continued to cautiously seek out more risk. The Aussie added 0.6% against both the greenback and the Japanese yen, settling at 1.0429 and 80.09 respectively at this morning’s NY close. During today’s Asian session the local unit has [...]
Currency markets were relatively quiet overnight, due in large part to the fact that US equity markets were closed for the Martin Luther King Jr. Holiday. The local unit put in a mixed performance, eking higher against the greenback to settle at 1.0309 but falling 0.2% against the yen to settle at 79.16 at the [...]
The Aussie and Kiwi dollars swung between gains and losses overnight amid concerns the ECB’s measures to boost liquidity may not stem the region’s debt crisis. At the NY close the AUD was 0.2% firmer against the greenback, holding above parity at 1.0092. The local unit fared slightly better against the Japanese yen, settling 0.4% [...]
Currency Trading Commentary: February 10
Last night’s action saw yet another subdued international trading session with no major data impacting markets, or at least not enough to budge traders who remain steadfast in waiting for the outcome of the Greek debt deal negotiations. The Aussie dollar settled a paltry 0.06% lower at this morning‘s NY close, buying US$1.0785. Against the [...]