|Day's Range||0.755 - 0.756|
|52 Week Range||0.7330 - 0.8136|
The dollar gained ground on Thursday, as the euro fell after comments from European Central Bank President Mario Draghi. The euro was down, with EUR/USD falling 0.44% to 1.2106 as of 11:14 AM ET (15:14 GMT) as investors worry that the eurozone's economy is rebounding and the European Central Bank could wait to tighten monetary policy. Draghi said that Eurozone area growth is “solid and broad based”, before adding that the ECB didn't discuss plans for its June meeting.
The pair went much lower during the Wednesday’s session reaching the 1.21 level, the area which has massive importance and was also the scene of a major breakout. A bounce from here will confirm the continuation of the upside trend but the pair is experiencing huge downward pressure due to rise in the yield of Treasury papers in the US. And, also lack of any clear direction from the ECB on monetary tightening is affecting the market. …Read MoreGBP/USD
Investing.com - The dollar eased back from three-and-a-half month highs against a currency basket on Thursday as investors took a breather after a recent rally driven by rising Treasury yields.
With the AUDUSD’s break of nearly a year-old ascending trend-line, the pair seems vulnerable enough to revisit the 0.7505-0.7500 horizontal-support but the 0.7550 may become immediate rest. In case if Bears refrain to respect the 0.7500 round-figure and oversold RSI, the 0.7460, the 0.7420 and the 0.7370 consecutive numbers may mark their presence on the chart.
Investing.com - The dollar was holding steady near three-and-a-half month highs against a basket of the other major currencies on Thursday, supported by higher Treasury yields as the U.S. 10-year bond yield held above the 3% level.
The first rule of trading is “keep the charts simple”. There is no need for any fancy oscillators, indicators or moving averages at this time. Just watch the price action and read the order flow at .7551 today.The AUD/USD is down five days from its last swing top. Usually we get a reversal bottom between 7 to 10 days. However, due to the size of the current break, we’re going to be watching for an earlier than expected reversal.
Essentially, rising U.S. Treasury yields and U.S. Dollar should continue to put pressure on the AUD/USD and NZD/USD. However, we could see some short-covering and position-squaring if the U.S. data misses their mark or if investors decide to book profits ahead of Friday’s U.S. GDP report.
Investing.com - The dollar retreated across the board in Asia on Thursday morning, but remained well above the 90 level as the U.S. 10-year Treasury yields continued to weigh on the currency market. Meanwhile, Australia reported bullish import and export price index.
The Australian dollar fell again during the trading session on Wednesday, as the US dollar continue to see a lot of strength based upon higher interest rates in the 10-year market. Ultimately, I think this pair breaking down over the last couple of sessions shows a potential larger move coming.
Investing.com - The U.S. dollar rose to four-month highs against a basket of the other major currencies on Wednesday, as the yield on the U.S. 10-year bond held above 3% after breaching the level for the first time in four years on Tuesday.
Investing.com - The U.S. dollar rose to seven-week highs against a currency basket on Wednesday, driven by rising Treasury yields with the U.S. 10-year bond yield reaching its highest level since early 2014.
The daily chart indicates there is nothing to stop the AUD/USD from reaching .7501 over the near-term. However, we are rapidly approaching the window of time for a closing price reversal bottom so short-sellers should start to pay attention to the price action on new lows.
If the pair breaks below further, then it will be negative and will be a massive damage to the overall uptrend. A break above 1.4025 level will probably send this market much higher and will break the negative momentum. The 1.40 level is now acting as a strong support line and if it breaks then it will be a bit difficult for the market to regain positive momentum.
Investing.com – The dollar was driven higher against other major currencies in Asia on Wednesday morning as the yields on 10-year U.S. Treasuries topped 3%, increasing prospects of inflation. The yen and the Aussie were both weighed down by the yield-fueled greenback.
Investing.com - The dollar took a breather on Tuesday after rising to seven week highs against a basket of the other major currencies, as a boost from rising Treasury yields faded.
Investing.com - The dollar continued to rally on Tuesday morning in Asia along with the higher yields on U.S. Treasuries that hit a four-year high, and the rally in the dollar weighed down the yen. Meanwhile, eyes were on the Aussie in the morning as Australia released some lacklustre CPI data.
The stable outlook for the Reserve Bank of Australia (RBA) and the Reserve Bank of New Zealand (RBNZ) contrasts with the U.S. Federal Reserve which is expected to raise rates at least two more times this year.
The Australian dollar has broken down significantly during the Monday session, slicing through the trendline as I record this. However, I would need to see this market break down below the 0.76 level to continue to go lower. I think that we are making a serious attempt to break things down, and if that’s the case I think that we could be seeing a major inflection point in this market.
Based on last week’s close at .7669, and the price action the previous three weeks, the direction of the AUD/USD this week is likely to be determined by trader reaction to the short-term Fibonacci level at .7743.
Investing.com – The dollar rose to an eight-week high against a basket of currencies amid a slump in both the yen and Aussie dollar, while a rise in the 10-year U.S. treasury yield close an important 3% level also lifted sentiment.
The pair dropped significantly during the Friday’s session reaching down towards the 1.22 level as due to rising interest scenarios in the United States and lack of any clear pictures on rate hike by ECB after ending the QE. The market has now broken below 1.23 level, there will be some downward pressure with major support at 1.21 level. …Read MoreGBP/USD
Investing.com – The dollar opened the week rising against other major currencies supported by the rise in U.S. Treasury yields last Friday. This week’s currency market is occupied by a slew of economic data, as investors will see inflation data from Australia, Japan and the U.S. to look for cues.
Price action this week likely to be influenced by Treasury yields, Chinese economy and stock market and commodity prices especially industrial metals like aluminum, copper and iron ore.
Investing.com - Investors will be awaiting an update on the health of the U.S. and UK economies this week ahead of Friday’s data on first quarter growth. Monetary policy meetings in the euro zone and Japan will also be in focus.