|Day's range||0.763 - 0.768|
|52-week range||0.7161 - 0.8124|
The market yesterday was bit volatile as it tried to build some support area around the region ahead of the crucial Fed rate hike policy decision. Now, the Fed has hiked the interest rate by 25 basis points and is more hawkish on the future rate hike, the market is expected fall lower towards the 1.17 level. The market was very noisy ahead of the Fed rate hike policy decision in Wednesday’s session, as it rallied towards the 1.34 level with a support of 1.33 level.
The sudden shift in the fundamentals, highlighted by the “dovish” Fed caught many investors by surprise. This likely means the short-covering rallies in the Aussie and Kiwi will continue until the weakest shorts are taken out of the market.
The Australian dollar has rallied after initially dipping on Thursday, in reaction to Senator Flake suggesting that he was not ready to sign the tax bill in America.
The volatility in the counter is mainly due to the Federal Reserve releasing its interest rate hike announcement later in the day today. A hawkish outlook will make this market to fall lower. This is mainly due to the Federal Reserve coming out with rate hike policy decision.
In case if the quote fails to extend latest recovery above 1.1795 mark, the 1.1750, the 1.1730-20 and the descending TL support of 1.1700 might entertain sellers. As a result, the pair’s break of 113.70 can quickly trigger its rise to downward slanting TL figure of 114.00, which if broken could further escalate the advances to 114.40 and to the November high around 114.75. Assuming the pair’s capacity to conquer the 114.75 resistance, the 61.8% FE level of 115.40 could please the Buyers.
Effectively this market will continue to be volatile in today’s session as the outcome of FOMC meeting on rate hike will come on Wednesday. If the statement from FOMC comes little hawkish, then this market will rally further towards the 1.20 level, and then eventually at 1.21 level.
The AUD/USD is currently straddling a major Fibonacci level. Trader reaction to this level could determine the near-term direction of the Forex pair.
The New Zealand Dollar is surging against the U.S. Dollar Monday on the news that NZ Superannuation Fund chief Adrian Orr was named as next governor of the Reserve Bank.
The market was slightly negative during the Friday’s session as it reached the 1.733 level. The market is expected to bottom out near the 1.17 level as it has been the bottom of long-term consolidation. The buyers are likely to take the grip of this market as overall sentiments of the market is bullish. The break above 1.18 level will send this market much higher towards the 1.21 level. Any pullbacks in the market is an excellent buying opportunity in this market. …Read MoreGBP/USD
Investing.com - The dollar gained in Asia on Monday ass the market looked ahead to the Fed this week as it is widely expected to hike rates and the launch of bitcoin futures caught attention in the market with the initial trade heading higher
U.S. Consumer inflation is expected to show a monthly rise of 0.4%, up from 0.1%. This number won’t affect the Fed’s December interest rate decision, but it could have an influence on the number of rate hikes in 2018.
The Australian dollar is currently testing the 0.75 level underneath, a major support level. Gold markets need to help, but so far they are not.
Based on the current price at .7513, the AUD/USD should remain under pressure as long as it remains under the steep downtrending angle at .7533.
The market was choppy during the Thursday’s session as it tried to cross the important 1.18 level. The longer-term view of the market is positive with the target of 1.21 level and break above this level will be a buy and hold situation for the market. The pair initially went in a sideways direction on Thursday’s session but then bounced significantly to reach the 1.3333 level below and then reached higher towards the 1.35 level.
The Australian Dollar plunged to its lowest level since June after a big miss on the trade surplus. The news highlighted the economy’s vulnerability to lower iron ore prices.
As we indicated yesterday, sell signal on the Gold is on! Recent support was successfully tested as a new resistance, which helped to push the prices to the local mid-term lows. Sell signal on Gold is very strong and we should see a further decline in the price of this precious metal.
If this market breaks down below the 1.3333 level then this market will slip further. Going ahead, the market will remain volatile because of the negotiations related to Brexit gathered pace and more clarity emerges.
A sustained move under .7602 will indicate the presence of sellers. If this move generates enough downside momentum, we could see the selling extend into the last main bottom at .7551.
The AUD/USD pair ran in a falling price channel on the daily chart. Price just bounced off the top trend line of the channel, indicating that the pair remains in the downtrend from 0.8124.
The market ahead will remain volatile as the US passes the tax reform bill. The market was extremely volatile during the yesterday, initially falling lower but found the strength to bounce back to its open level. This is a psychologically important level and if the market breaks from here then it will go towards the 0.75 level.
Today’s sell-off has erased all of yesterday’s gains, indicating that investors have a few doubts about the RBA’s forecast. The Australian Bureau of Statistics data showed Australia’s economy grew 2.8 percent over the year. The RBA is forecasting 3.0 percent growth.
The Australian dollar rallied significantly during the trading session on Tuesday, but found that massive amounts of resistance at the 0.7650 level.
While more than three-month old descending trend-line has been restricting the EURUSD’s advances, a bit smaller upward slanting TL seems limiting the pair’s near-term declines. However, the RSI is around overbought region and the US tax-plan is about to become a law, which in-turn indicates the pair’s downside. Hence, a daily close below the 1.1845 trend-line can act as a trigger to quickly fetch the pair towards 1.1800 and then to the 50-day SMA level of 1.1755. Given the quote continues declining beneath 1.1755, the 1.1685 and the 1.1660 could please sellers. ...
Hawkish RBA lifts the AUD and creates a nice trading opportunity on the AUDUSD. First of all, we do have a bounce from the up trendline. Next are the correction equality pattern and the iH&S formation. What is more, the price came back above the 38,2% Fibonacci and used that as the closest support. All that is very positive for the AUDUSD in the mid-term.
The pair gapped lower at the open during the Monday’s session and reached towards the 1.1850 level, as traders were excited with tax bill getting passed in the Senate. The market is likely to witness upside pressure in the coming sessions and it is believed that the 1.17 level will be a massive support zone.