|Day's Range||0.722 - 0.724|
|52 Week Range||0.7022 - 0.8136|
The Australian dollar bounced a bit during the day on Tuesday, but still remains well below the recent highs, and is giving back some of the gains midday. Because of this, I think we continue to see negativity in this market, and it is probably only a matter time before we fall again.
Investing.com - The dollar was lower on Tuesday, but still remained near a 16-month high in anticipation of Federal Reserve rate hikes.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.29% to 97.10 as of 10:54 AM ET (15:54 GMT), but remained near Monday’s high of 97.52.The greenback continued to push higher amid expectations that the Federal Reserve will raise rates in December and beyond, as the U.S. economy gains strength. ...
Despite the long-term pressure from the divergence between the monetary policies of the hawkish U.S. Federal Reserve and the dovish Reserve Banks of Australia and New Zealand, it looks as if the positive trade news about the U.S. and China is likely to drive the price action on Tuesday.
Investing.com - The yuan inched up against the dollar on Tuesday following reports that U.S. Treasury Secretary Steven Mnuchin had resumed talks with China Vice Premier Liu He.
Economic data is likely to have a relatively muted impact on the majors through the day, with heightened geo-political risk to drive the EUR and the GBP.
Based on Monday’s price action, the direction of the AUD/USD is likely to be determined by trader reaction to the steep downtrending Gann angle at .7222.
Investing.com - The dollar remained near a 16-month high on Monday, as concerns over Brexit and political issues in Italy weighed on the pound and euro.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, surged 0.47% to 97.19 as of 10:36 AM ET (15:36 GMT), not far from a session high of 97.36, the most since June 2017.The greenback surged amid expectations that the Federal Reserve will raise rates in December and beyond. An equity selloff also helped boost demand for the dollar, as Wall Street opened lower. ...
The Australian dollar has fallen a bit during the trading session on Monday to kick off the week, as we have initially tried to rally, but then broke down a bit from there. At this point, the 0.72 level is the door to lower pricing.
The sell-off in the EUR/USD pair continued in the Friday’s session as it reached down to the 1.13 level, an area which is supportive. The Italian debt crisis and the Fed’s hawkish attitude on further rate hike are keeping the market under pressure. The 1.27 level underneath is a strong support point and the market is likely to gain enough strength to continue moving higher.
Brexit and Italy will be in focus through the day, the EU Commission the common denominator, placing GBP and the EUR in the spotlight.
Investing.com - The dollar was trading near 16-month highs against a currency basket on Monday, bolstered by expectations that the Federal Reserve will hike interest rates again in December and beyond.
Based on last week’s close at .7228, the direction of the AUD/USD this week is likely to be determined by trader reaction to the intermediate 50% level at .7252.
Despite the positive outlooks from the RBA and the RBNZ, Aussie and Kiwi gains are likely to be limited because the divergence in their monetary policies with the Fed continue to favor the U.S. Dollar.
The Dollar/Yen rose last week as buyers returned to the stock market, dampening the attraction of the Japanese Yen as a safe-haven asset. The Australian Dollar rose steadily all week, seemingly unaffected by the outcome of the U.S. elections and another hawkish statement from the Fed. The New Zealand Dollar rose last week, supported by solid employment data and a surprise tweak to the Reserve Bank of New Zealand’s monetary policy statement.
Ahead of the new week, buyers are likely to continue to support the dollar for two reasons: the Fed is still hiking rates and trade tensions are still making the greenback an attractive safe haven asset.
The Australian dollar has tried to rally during the week but found enough resistance at the 0.7250 level to turn things around and form a bit of a shooting star. I think that the Australian dollar may have gotten ahead of itself after the bounce, which of course makes sense at the 0.70 level.
The Australian dollar fell again on Friday after trying to break out on both Wednesday and Thursday. This suggests that perhaps the 0.73 level above is going to continue to be major resistance. After a nice run higher, are we perhaps heading back into consolidation?
Investing.com - The dollar was steady against other currencies on Friday as inflation numbers supported continued rate hikes from the Federal Reserve.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, inched up 0.01% to 96.56 as of 10:23 AM ET (15:23 GMT), not far from over a one-week high.The dollar fell against the Japanese yen, with USD/JPY down 0.28% 113.74. The Canadian dollar was lower, with USD/CAD rising 0.27% to 1.3189.The producer price index (PPI) increased 0.6% in October, while core PPI rose by 0.5% from a month earlier. ...
The Euro was choppy all through the Thursday’s session, finding it difficult to break above the 1.15 level, which has turned massively resistive. The pair is likely to move in a back and forth momentum in the next few session, till the noise around the US election settles down. Underneath, the 1.13 level will offer maximum support and will continue to consolidate between the 1.13 and 1.15 level. …Read MoreGBP/USD
Investing.com - The U.S. dollar was little changed on Friday after the Federal Reserve left interest rates on hold as expected. The Aussie dollar slipped after China reported weaker-than-expected China PPI release.
The RBA’s Statement of Monetary Policy did the Aussie Dollar no favors early on, with focus now on stats out of the UK and Brexit chatter.
The U.S. dollar extends earlier gains on Thursday, recovering ground from its post-midterm election slide the previous day, as the Federal Reserve keeps its monetary policy on hold and indicates further gradual rate hikes in the future.
The Australian dollar has rallied a bit during the session on Thursday, reaching towards the highs of the Wednesday session again. However, the 0.73 level above could be a bit resistive above. The previous downtrend line could offer support, and therefore I think that it could offer a buying opportunity.
Investing.com - The U.S. dollar inched up on Thursday morning in Asia as investors awaited the Federal Reserve's latest policy decision later in the day.
The Federal Open Market Committee is expected to leave interest rates unchanged. No major adjustments are expected from the meeting. However, the central bank is expected to maintain its hawkish tone in its statement, signaling a December rate hike.