|Day's range||0.752 - 0.756|
|52-week range||0.7161 - 0.8124|
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.
The RBA said Tuesday it is holding its benchmark cash rate unchanged at 1.5 percent. This news was widely expected. The central bank has kept rates at this level since August 2016.
Investing.com - The Commodity Futures Trading Commission released its weekly Commitments of Traders report for the week ending November 28 on Friday.
The fact that the last couple of months have had similar lows should be a positive technical sign for those who trade based on technicals and that adds to our belief that the GBPUSD pair would move higher in the coming month. This is likely to affect the Aussie and we should see the 0.75 region coming under pressure once again.
The Australian Dollar posted a two-sided trade last week before closing lower. The Aussie was pressured by the divergence between the hawkish U.S. Federal Reserve and the dovish Reserve Bank of Australia. The New Zealand Dollar was helped by technically oversold conditions and an upbeat RBNZ Financial Stability Report and friendly remarks from RBNZ Governor Spencer.
The U.S. Dollar finished higher against a basket of currencies last week but most of the gains were attributed to a weaker Euro which accounts for a little more than 50% of the dollar index. The greenback rose against the Japanese Yen and the Australian Dollar, but lost ground to the New Zealand Dollar and the British Pound. The dollar started the week under pressure due to a strong Euro and cautiousness ahead of Congressional testimonies of Fed Chair nominee Jerome Powell and current Fed Chair Janet Yellen.
The AUD/USD surged on Friday on reports Michael Flynn may implicate President Donald Trump in the Russian investigation. According to ABC News, retired General Michael Flynn would testify that he was directed by the Trump administration to make contact with Russia. The main trend is down according to the daily swing chart.
The Australian dollar spent most of the week falling, but then turned around and rallied enough to form a hammer. However, there are resistive areas just above that could cause issues.