|Day's range||0.714 - 0.718|
|52-week range||0.6919 - 0.8136|
If the market breaks below the 1.1350 level, then it could break down towards the 1.12 level. The AUD witnessed a massive resistance as it tried to break higher but has pulled back from there. It has been a bit bullish in the market and if the market breaks above the 110 level, then the market could witness a lot of upside pressure.
Investing.com -The safe haven Japanese yen firmed against the dollar on Monday as investors digested the latest signs of a slowdown in China after data pointing to a dip in fourth quarter growth.
With a Plan B seemingly in the wind, Theresa May could be in hot water later today, with Parliament getting restless.
Investing.com - The Chinese yuan fell on Monday in Asia after data showed China’s GDP slowed in the fourth quarter.
The tone changed from short-term bullish to short-term bearish last week when U.S. Treasury yields started to rise. This helped make the U.S. Dollar a more attractive investment. Yields are being boosted by increased demand for risky assets tied to the optimism over the positive developments in the trade talks between the United States and China.
Based on last week’s price action and Friday’s close at .7165, the direction of the AUD/USD on Monday is likely to be determined by trader reaction to the main Fibonacci level at .7153.
The Australian dollar went back and forth during the week, testing the area just below the 0.7250 level. This is an area that of course is important as we have seen more than once, and with all of the headlines out there it’s not surprising that we continue to see a bit of hesitation.
The Australian dollar went sideways during the day on Friday, as we were very quiet yet again. The market is pressing significant resistance, and at this point I think we have some decisions to be made.
The Euro continued with its back and forth momentum in the Thursday’s session as the 1.14 level has been important in the short term charts and also attracting a lot of interest. Going forward, the market will continue to grind higher, as it is trying to form a bit of rounded-bottom pattern but the 1.15 level above is likely to offer significant resistance and of course the 200 Day EMA level above. …Read MoreGBP/USD
The pound was lower on Friday as the uncertainty over Brexit continued to put pressure on the economy. U.K. retail sales fell for the first time since March, suggesting that consumers are becoming more cautious as Brexit nears. Prime Minister Theresa May's Brexit deal was defeated in parliament on Tuesday but she won a subsequent vote of confidence, which has removed some political uncertainty.
Geo-political risk will remain the key driver ahead of the weekend, with Brexit and the possibility of a reduction in tariffs on Chinese goods on the table.
Based on the early price action, the direction of the AUD/USD on Friday is likely to be determined by trader reaction to the steep uptrending Gann angle at .7204.
Investing.com - The U.S. dollar was little changed on Friday in Asia after trading slightly higher earlier in the day amid optimism of progress in Sino-U.S. trade talks.
The Aussie dollar pulled back slightly during early trading on Thursday but continues to find a bit of support at the 50 day EMA. However, I think that longer-term forces are going to come into play and could affect where we go next.
The Euro continues to drift lower in the Wednesday’s session, breaking below the 1.14 level, as the pair is trying to form some type of bottom around. If the market breaks down below the 108 level, then it will be extremely negative and could reach down to the 105 level.
With Theresa May and the Tories surviving the day, focus will shift to the EU and whether the British PM can find better terms.
Investing.com - The British pound was little changed on Thursday in Asia after U.K. Prime Minister Theresa May's government survived a vote of no-confidence.
The Aussie dollar pulled back a bit during the trading session on Wednesday, as the resistance barrier has held again. Now that we have rolled over a bit, we are testing a major EMA, but I think ultimately we had just gotten a bit ahead of ourselves.
The pound steadied on Wednesday after having fallen late Tuesday when the U.K. parliament overwhelmingly voted down Prime Minister Theresa May's Brexit deal. The House of Commons voted 432-202 against May's deal, leaving uncertainty over the future of the country's plans to leave the EU on March 29. Bank of England Governor Mark Carney said the rebound suggested markets now see a "diminished" risk of a disorderly Brexit with no transitional arrangements.
The AUD/USD and NZD/USD could remain in a range on Wednesday, underpinned by the hopes that China will soon announce a stimulus package. As noted on Tuesday, traders will be particularly sensitive to any positive or negative comments about a potential trade deal between the U.S. and China.
The Euro was a bit negative during the Tuesday’s session, breaking below the 1.1450 level to reach the supportive 1.14 level. The 200 Day EMA is offering a significant resistance and until it breaks above that, the pair will continue to witness selling pressure on each and every rally. There are a lot of developments going around especially with the Fed on future rate hikes, ECB’s decision to step away from asset purchase and Brexit which will keep the market extremely noisy. …Read MoreGBP/USD
With the Brexit deal sunk and Theresa May needing to head back to Brussels, there’s just a vote of no confidence to survive later today…
Investing.com - The British pound traded flat on Wednesday in Asia after U.K. Prime Minister Theresa May’s Brexit plan was voted down by a hefty margin.
The Australian dollar has been rather noisy as of late, but the one thing that I can glean from this chart is that there is a specific level of resistance just above that is going to be difficult to overcome.