FX Trading News & Strategies from Australian Stock Report
The move above the 78.20-40 resistance region should have bullish implications for the USDJPY over the next few weeks. The next horizontal technical levels are noted at 79.50 initially, followed by 80.30, and these naturally become the target regions. Below the current market price, support is noted at 78.00 initially. The price action should not [...]
The bias for the GBPUSD (Cable) is neutral to bullish. In the near-term the price action has been very bullish, moving from approximately 1.5250 in mid-January to currently be trading around 1.5800. The shorter-term EMAs are crossed higher and diverging, and the price action has just recently moved above the longer-term EMA filter and pervious [...]
The bias for the NZDEUR is bullish. Since the start of the year the Kiwi has been on a tear, whilst the euro has continued to struggle under the weight of the Greek debt fiasco. The shorter-term EMAs are crossed higher and diverging and the price action is above the longer-term EMA filter, which is [...]
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 [...]
The Aussie dollar continued to push higher on Friday night, breaking above a key technical level on the back of slightly stronger commodity prices. The local unit added 0.5% against the greenback to settle at 1.0465 at Saturday morning’s NY close, and 0.3% against the yen to settle at 80.57. The Aussie was little changed [...]
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 [...]
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% [...]
Despite pulling back from the recent highs around 0.9550, the bias for the USDCHF is bullish. The price action has pulled back to the breakout region, around 0.9230, and held there thus far. If the price action can bounce off this region, we could see a rotation back in the recent high. In order to [...]
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 [...]