|Day's range||0.705 - 0.705|
|52-week range||0.6833 - 0.7464|
The Australian dollar spent most of the week rallying above the significant resistance barrier that had been keeping this market down for some time. The fact that we have pierced that level is of course very bullish overall.
The Australian dollar had originally broken out of major resistance during the trading session on Thursday, and on Friday pulled back a bit from those extreme highs based upon the daily candle stick on Thursday. That of course is typical, because we had pierced major resistance, so it should now be major support.
Investing.com - The U.S. dollar inched up on Friday in Asia even after Federal Reserve officials bolstered expectations of an aggressive rate cut this month.
At around 19:40 GMT, the US Dollar Index was -0.47% down as the Initial Jobless Claims computed since July 12 reported adverse statistics. The Swiss Franc pair showcased breakdown out of the 8-day old symmetrical triangle vicinity.
The Australian dollar rallied a bit during the trading session on Thursday but still faces significant resistance just above. With that being the case it looks as if we are about to take on a serious level in the market that could change things going forward.
It was a mixed bag on the data front in Asia as Japan sees exports tumble. Corporate earnings also disappointed as trade war angst returns…
Investing.com - The U.S. dollar slipped on Thursday after the International Monetary Fund (IMF) said the currency is overvalued, while a rebound in the pound also weighed.
The Australian dollar tried to rally during the trading session on Wednesday but failed and rolled over again to test a major round figure. Ultimately, this is a market that is trying to break out to the upside but doesn’t quite have the momentum.
Investing.com - The U.S. dollar dipped slightly on Wednesday but still remained near one-week highs after the International Monetary Fund said the greenback is overvalued.
It’s a quiet day on the economic calendar, which will leave the Pound in the spotlight. Brexit woes continue to trouble the Pound, which is on the slide this morning…
Investing.com - The U.S. dollar rose on Wednesday in Asia on the back of the release of strong retail sales data, while the pound traded near two-years low on Brexit concerns.
The RBA Meeting minutes revealed that the Bank would keep the doors open for further ease in the monetary policy by a quarter-point soon. The Euro pair and Cable suffered some huge pullbacks today.
The Australian dollar has been going back and forth during the trading session early on Tuesday, as we sit on the precipice of a potential break out. With that being the case, it’s very interesting to see this market as getting close.
Investing.com - The U.S. dollar was higher on Tuesday after stronger-than-expected retail sales showed the economy was healthy, even as the Federal Reserve is expected to cut interest rates.
The focus now shifts to the U.S. economy as investors get the opportunity to react to a slew of economic reports ranging from the major retail sales data, and the minor import prices, capacity utilization, industrial production, business inventories and the NAHB housing market index.
The market paused for thought overnight while shifting away from the recent buy all trend that was triggered by the definitively dovish tone from Chair Powell last week.
Today, the GBP/USD pair maintained a strong downtrend amid rising Brexit uncertainities. Meanwhile, Lower-than-expected June Producer and Import Prices provided the extra ammunition to the resilient USD/CHY bulls.
The Aussie dollar rallied a bit during the trading session on Monday, reaching towards the shooting star that formed last week. This shows the importance of the 0.7050 level, an area that has turned the market around again. However, we are reaching towards that level in a push to break out.
Investing.com - The U.S. dollar rose on Monday, as manufacturing activity in New York posted its biggest increase in more than two years.
China’s quarterly GDP lowered concerns around growth rates, slightly exceeding expectations. In Q2, the growth rate of the country’s economy increased to 1.6% which is higher than expected. It is also better than 1.4% it was in the first three months of the year.
Based on the early price action and the current price at .7031, the direction of the AUD/USD the rest of the session is likely to be determined by trader reaction to the Gann angle cluster at .7031.
Stronger numbers from China are likely to be supportive for the Aussie and Kiwi early in the week, but look for volatility to return and a potential change in trend later in the week with the release of the Australia labor market data and the New Zealand consumer inflation report.
Investing.com - The U.S. dollar was near flat on Monday in Asia as rising inflation failed to deter expectations that the Federal Reserve will cut interest rate this month.
It’s a big week ahead, with key stats, corporate earnings, and geopolitical risk to provide the majors with direction through the week.