FX Trading News & Strategies from Australian Stock Report
The Australian dollar rallied over the past 24-hours, moving past the US$1.08 handle on the back of yesterday refusal by the RBA to cut interest rates. The Aussie added 0.7% against the greenback to settle at 1.8000 at this morning’s NY close, and 0.9% against the yen to settle at 82.92. Overnight the euro rose [...]
The RBA surprised the market today by keeping rates on hold, at 4.25%. The decision, delivered at 2:30pm, AEDT, caused a sharp spike in the Aussie dollar, sending it surging into a six-month high of 1.0810. The market had priced in the likelihood of a further 25 basis point cut, hence the strong reaction when [...]
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 [...]
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 [...]
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 [...]
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% [...]
EURUSD Trading Commentary: February 3
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, [...]