|Day's Range||0.718 - 0.72|
|52 Week Range||0.7022 - 0.8136|
Investing.com - The U.S. dollar slipped on Wednesday in Asia as the Federal Reserve got its two-day meeting underway.
With the main trend down and based on the earlier price action, the direction of the AUD/USD is likely to be determined by trader reaction to the Fibonacci level at .7163. Basically, look for an upside bias to develop on a sustained move over .7207, and for the downside bias to resume on a sustained move under .7163.
The Greenback is hit early with sentiment towards today’s FED decision sitting on the dovish side, expectations being particularly mixed this time around.
Investing.com - The U.S. dollar was lower on Tuesday as investors waited for news from the Federal Reserve’s latest policy meeting.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.14% to 96.41 as of 10:23 AM ET (15:23 GMT), after an overnight high of 96.63.With the Fed expected to increase rates by 25 basis points for the fourth time this year on Wednesday, investors will be watching for any new comments on possible policy changes in 2019. ...
The Australian dollar try to rally during the day on Tuesday, but gave back most of the gains, only to turn around and show signs of weakness yet again. At this point, it’s likely that the market participants continue to sell rallies, as the US/China situation continues to dominate the market.
AUD starts this week on the back foot. From the technical point of view, the drop is supported by the Head and Shoulders formation and by the breakout of the lower line of the symmetric triangle pattern. Some may see an additional Head and Shoulders pattern, which only adds to the bearish sentiment here.
While most of the content of the minutes was widely anticipated, the Reserve Bank did warn that falling household consumption, fueled by declining real estate values and high debt levels is a key source of uncertainty for the Australian economy.
Investing.com - The U.S. dollar was flat on Tuesday in Asia as investors waited for the Federal Reserve to deliver its latest monetary policy decision.
The EUR/USD pair rallied a bit to kick off the week but struggled to move higher as the 50 Day EMA crossover offered significant resistance. With Federal Reserve moving to raise the interest rate this Wednesday, the pair is expected to trade under pressure with a back and forth momentum. The 1.14 level above will be a strong resistance and 1.13 level will act as a hard support. …Read MoreGBP/USD
The AUD/USD and NZD/USD could continue to firm if the speech by Xi hints at a desire to work with the U.S. on trade issues. However, I don’t think investors are going to be willing to commit to either side in a big way ahead of the Fed’s interest rate and monetary policy decisions on Wednesday.
Based on the recent price action, the direction of the AUD/USD on Tuesday is likely to be determined by trader reaction to the Fibonacci level at .7163.
Sentiment towards the release of the FOMC economic projections continue to weigh on the Dollar, while the British PM sees more trouble at home.
Investing.com - The U.S. dollar pulled back from an 18-month high on Monday after disappointing economic data.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.2% to 96.69 as of 10:10 AM ET (15:10 GMT), after an overnight high of 97.69.The Empire State manufacturing index was lower in December, adding to concerns over the health of the U.S. economy. The reading was at 10.90 from 23.30 in November, the New York Fed reported on Monday. ...
The Australian dollar fell hard during the trading session on early Monday morning, but has found a bit of stability near the 0.7175 handle. This is a market that has been very choppy over the last couple of weeks, as you can see on the chart.
This pair has recently been following the technical protocol with great accuracy, so it provides us with a very interesting occasion. Price action principles have been dominant here over the past few months. It all started with the Head & Shoulders pattern during the summer.
The Aussie Dollar finds support from the latest MYEFO report, with inflation and trade data out of the Eurozone bringing the EUR into focus later today.
This week, most eyes will be on the interest rate and monetary policy decisions by the U.S. Federal Reserve. The Fed is widely expected to raise its benchmark interest rate 25 basis points. However, investors will be more interested in how the Fed views future rate hikes.
Based on last week’s price action and the close at .7175, the direction of the AUD/USD on Monday is likely to be determined by trader reaction to the Fibonacci level at .7163. Basically, look for an upside bias to develop on a sustained move over .7207 and for the downside bias to continue on a sustained move under .7163.
The Australian Dollar is likely to remain under pressure throughout 2019. The on-going trade dispute is likely to continue to weaken exports which should force the RBA to keep policy unchanged because lower rates are helping to keep the economy afloat as it rides out the storm. However, an escalation of the trade dispute combined with a faster pace of declines in housing prices could force the central bank to lower rates. This would keep the downside pressure on the Aussie Dollar.
Currency markets attract flows into perceived havens on Friday, as risk appetite weakens on the back of weaker-than-expected data from the eurozone and China.
The Australian dollar initially tried to rally during the week but found enough resistance at the 0.7250 level to turn around and fall. Not only did it fall though, it ended up forming an inverted hammer.
The Australian dollar broke down during the session on Friday, as we have negative numbers coming out of China to suggest that the economy may be slowing down. Ultimately, I think that if we break down below the bottom of the candle stick for Friday, we continue to go lower, perhaps reaching down to the 0.70 level.
Investing.com - The U.S. dollar was higher on Friday after better-than-expected retail sales and amid expectations that the Federal Reserve will raise rates next week.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.56% to 97.60 as of 10:02 AM ET (15:02 GMT).Retail sales accelerated in November, with core retail sales up 0.2%, alleviating fears of a slowing U.S. economy.Meanwhile investors are focused on an upcoming meeting of the U.S. central bank, which is expected to increase rates, with a 79. ...
The U.S. dollar was higher on Friday, as investors turned their focus to the expected Federal Reserve rate increase next week, even as uncertainty over next year’s hikes kept gains in check. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.5% to 97.52 as of 5:20 AM ET (10:20 GMT). "There is a lot of disagreement in the markets over the Fed's rate hike course in 2019 with traders expecting anywhere between one to four rate hikes," said Michael McCarthy, chief markets strategist at CMC markets.
The Euro continued to trade sideways during the Thursday’s session, as the market looks confused with the Federal Reserve’s stance and some of its comments lately on the interest rate hike. The 1.13 level underneath and 1.1450 level above will be the major support and resistance point for the market. The British Pound rallied a bit during yesterday’s session but is likely to experience significant resistance above as both 200 Day EMA line and 1.27 level has turned resistive.