|Day's range||0.724 - 0.727|
|52-week range||0.7086 - 0.8136|
Investing.com - The U.S. dollar continued to fall against other currencies on Monday, while the pound gained ground as investors awaited an interest rate decision from the Federal Reserve.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.21% to 93.59 as of 10:21 AM ET (14:21 GMT).The Fed meets on Tuesday and Wednesday, with traders expecting a rate hike for the third time this year. The market has already priced in a 100% chance of a 25-basis-point increase.Chances of an increase in December were at 86.1%. ...
1. The rebound in the Australian dollar is over -- for now. The Aussie fell heavily on Monday, weighed down by renewed concern over trade negotiations between China and the US. 2. Westpac is ditching risky property investors, giving them a month to find a new lender.
The Australian dollar was lower, with AUD/USD down 0.26% to 0.7271, while NZD/USD fell 0.19% to 0.6677 and USD/CAD gained 0.18% to 1.2938.
Trade war jitters return, weighing on the equity markets and commodity currencies, Trump’s 2nd general assembly speech tomorrow of little comfort.
The Euro breaks lower after testing the massively resistive 1.18 level in the Friday’s session, which was the top of the larger consolidation area. It is expected that the 1.17 level underneath is going to offer strong support to the pair and is likely to trade above this range for next couple of session to gain momentum to break higher. After rallying significantly in the last few session, the pair experienced some cooling down effect and tested the 0.7250 level underneath for support.
Investing.com - The Japanese yen edged up on Monday as China cancelled its planned trade talks with the U.S. The dollar also gained following the news.
While an easing of trade tensions between the United States and China may have been the catalysts behind last week’s rally in the Aussie and Kiwi, the possibility of renewed concerns could take the currencies lower early this week. This is because late Friday, China announced it was cancelling its meeting with the U.S., and wouldn’t resume negotiations until after the November U.S. mid-term elections.
Based on Friday’s close at .7288 and the late session weakness, the direction of the AUD/USD on Monday is likely to be determined by trader reaction to the main 50% level at .7284. The main trend is up according to the daily swing chart. However, momentum may have shifted to the downside with the formation of a minor closing price reversal top.
The U.S. Dollar finished lower against a basket of major currencies last week after an easing of tensions over the trade dispute between the United States and China encouraged investors to lift dollar hedges. The Reserve Bank of Australia (RBA) warned on risks to its outlook from U.S.-China trade tensions and weak wages, while reaffirming its next interest rate move would likely be a hike. The New Zealand Dollar was boosted after data showed its economy grew at a faster pace than expected in the second quarter. The Bank of Japan (BOJ) reiterated last Wednesday that it would keep interest rates extremely low “for an extended period,” holding to forward guidance it first introduced in July.
The Australian dollar has exploded to the upside during the trading week, reaching towards the 0.73 handle. We have broken above the top of the previous couple of weeks, and I think it allows this market a little bit of bullish momentum going forward.
The Australian dollar has rallied over the last several days but did see a lot of negativity heading into the US session on Friday. With the dip, we tested the 0.7250 region, before finding a little bit of buying pressure.
The Australian dollar was lower, with AUD/USD down 0.16% to 0.7280. Meanwhile NZD/USD jumped 1.04% to 0.6679 after Moody's reaffirmed the country’s AAA rating.
Even after clearing six-week old descending trend-line, the AUDUSD presently struggles with an intermediate resistance-line, at 0.7300, in order to justify its strength. If the pair reverses from said barrier, the 0.7260, the 0.7245 and the 0.7230 are likely following supports to gain market attention. However, an upward slanting TL, at 0.7210 now, could confine the pair’s downside past-0.7230, if not then the 0.7160, the 0.7130 and the 0.7080 become important to watch. Alternatively, an upside break of 0.7300 can propel prices to 0.7330 and to the 0.7370 prior to highlighting 0. ...
Investing.com - The Japanese yen showed little reaction to the domestic CPI data released Friday that has risen to its highest point in seven months. The U.S. dollar gained but still hovered near two-month lows.
The Australian dollar rallied significantly during the trading session on Thursday, reaching two fresh, new highs. By heading towards the 0.73 level, and more importantly breaking above the 0.7250 level, it looks as if the Australian dollar is ready to continue going higher. In general, I believe that this market has a specific level and focus.
Inflation numbers out of Japan this morning were a reminder of how far off the BoJ is from making a move, focus shifting to the EU and the Oval Office.
The Euro initially rallied during the day on Wednesday but is facing stiff resistance at the neckline of an inverse head and shoulders pattern that is formed on the daily chart. The market is expected to continue noisy and given the trade wars, USD will experience pressure and “buy on dips” will be the right strategy to continue in this market.
Investing.com - The U.S. dollar traded near a seven-week low on Thursday while the kiwi jumped after data showed the country’s second quarter economic growth topped estimates.
Based on the early price action, the direction of the AUD/USD on Thursday is likely to be determined by trader reaction to the Fibonacci level at .7257.
The Australian dollar continues to rally during the day on Wednesday, reaching towards the 0.7250 level. There is a certain amount of resistance here, but if we can break above this level I think that the next stop will probably be the 0.7350 level.
Impressive 2nd GDP numbers drive the Kiwi, with Brexit and retail sales numbers putting the Pound in the spotlight.
The reaction by Australian and New Zealand Dollar traders seems to suggest that the tariff announcement was overall on the soft side of market expectations.
The Euro rallied initially during the Tuesday’s session but as soon as China announced retaliatory tariffs, the market turned extremely volatile. In order to continue with the bullish sentiment, it needs to break above the 1.1725 level, which will send this pair to the 1.1750 level and then to the 1.18 level. The pair is successfully holding above the 1.3125 level and given enough time, it likely that buyers send this market much higher.