|Day's Range||0.708 - 0.715|
|52 Week Range||0.5520 - 0.7229|
It’s a busy week ahead for the markets. Economic data, COVID-19 updates, and political wrangling on Capitol Hill are just a few of the things to consider.
The closing price reversal top will be the focus on Monday because trader reaction to this chart pattern will tell us if momentum is shifting.
The Australian dollar has extended itself to the 200 week EMA, where we have seen a pullback. It is most clearly bullish and therefore should not be shorted.
The Aussie dollar initially rally on Friday but has pulled back just a bit in what is probably going to end up being profit-taking into the weekend.
It’s a busy day ahead on the economic calendar. The EUR, the Loonie, and the Greenback are in focus along with the U.S COVID-19 stimulus package.
Posted by OFX AUD - Australian Dollar The Australian dollar offered little to excite investors through trade on Thursday, again failing to break above resistance at 0.72 US cents. Risk assets came under pressure overnight as oil prices dipped and President Trump suggested a delay to the Presidential Election in November. Trump’s … Continue reading "Australian dollar poised to break 0.72 US cents"The post Australian dollar poised to break 0.72 US cents appeared first on .
The Australian dollar pulled back a bit on Thursday but continues to find buyers underneath as the US dollar is being chewed up by the Federal Reserve.
The Australian dollar rallied a bit on Wednesday as we await the FOMC. It looks very likely that we will continue to go much higher.
Wednesday is all about the FOMC and many traders are anticipating some fireworks. Definitely, if you seek volatility, Dollar is a place to go right now but if not and you are very tight towards the risk, then try to avoid the USD at all costs. As always, we got you covered in both cases. In todays analysis, we prepared a pair with the American Dollar and two pairs without. Enjoy!
The mighty Dollar has been bruised and battered by G10 currencies this month as investors question the strength of the U.S economic recovery in the face of rising coronavirus cases across multiple states.
Essentially, a dovish Fed should be supportive for the Aussie, but gains are likely to be capped as low inflation concerns move to the forefront.
Posted by OFX AUD - Australian Dollar While the broader risk narrative remains intact markets adopted a more cautious tone through trade on Tuesday, preventing the AUD from extending significantly beyond 0.7150. Having touched intraday highs at 0.7175 the AUD remained range bound through much of the day bouncing between 0.7120 and … Continue reading "AUD upturn stalls as markets pare gains ahead of two key risk events"The post AUD upturn stalls as markets pare gains ahead of two key risk events appeared first on .
Australian dollar continues to go back and forth on Tuesday, because we are killing time before we continue to punish the US dollar. FOMC meeting this week.
The direction of the AUD/USD the rest of the session on Tuesday is likely to be determined by trader reaction to .7123.
Posted by OFX AUD - Australian Dollar The Australian dollar maintained its upward momentum through trade on Monday, pushing back above 0.71 amid broad based US dollar weakness. Having opened below 0.7090 the AUD climbed steadily throughout the day marching back toward 0.7150 and intraday highs at 0.7151. Despite a sustained demand … Continue reading "AUD holds onto gains; Is the US dollar bull run coming to an end?"The post AUD holds onto gains; Is the US dollar bull run coming to an end? appeared first on .
The Australian dollar rallied again at the beginning of the week against the US dollar as we continue to see the massive amount of bullish pressure.
The direction of the AUD/USD the rest of the session on Monday is likely to be determined by trader reaction to the pivot at .7123.