|Day's range||0.678 - 0.678|
|52-week range||0.6679 - 0.7393|
The minor range is .6677 to .6821. Its 50% level or pivot at .6749 is controlling the minor direction of the AUD/USD. Holding above this level is helping to generate a slight upside bias.
The Australian dollar has chop around during the week, showing signs of exhaustion, as the Australian dollar of course continues to suffer at the hands of the US/China trade war which seems to only be getting worse.
The Australian dollar tried to rally during the trading session on Friday again but continues to find sellers near the 0.68 handle. As we continue to consolidate, the market is trying to figure out whether or not we are going to be able to continue to see risk.
Investing.com -- Risk sentiment returned to the foreign exchange markets early Friday in Europe, with the Swiss franc and yen retreating against the dollar, and the dollar retreating against the pound as a week of turbulent newsflow drew to a comparatively quiet close.
Investing.com - The U.S. dollar steadied on Friday in Asia, while the Japanese yen fell following the release of better-than-expected U.S. retail sales data.
After marking the day’s opening near 105.89 level, the Ninja showcased a pretty decent performance on Thursday. Greenback continued to sustain positive price actions even today.
The Aussie dollar rallied a bit during the trading session on Thursday, as we continue to grind back and forth just below the 0.68 handle. At this point in time the market looks a bit confused then certainly has a lot to think about.
The Australian Dollar is trading a little higher early Thursday after Australia’s labor market continued to confound the experts, by adding nearly three times the estimated number of jobs, while unemployment remained stubbornly unchanged as the labor force expanded further.
“Businesses are waiting to see how the uncertainty resolves rather than invest,” he added. “The longer businesses hold off, the weaker demand will be, which will further confirm the decision to wait. That runs the risk of a self-fulfilling downturn.”
Investing.com - The Australian dollar rose against its U.S. counterpart on Thursday in Asia following the release of better-than-expected jobs data.
Based on Wednesday’s price action and the close at .6748, the direction of the AUD/USD on Thursday is likely to be determined by trader reaction to the minor pivot at .6749.
Despite positive AUD-specific data, the Aussie pair was heading south to end the day on a negative note. Fiber kept slipping throughout the day shrugging towards upbeat Eurozone and German Q2 YoY GDP data.
Investing.com - The Japanese yen rose on Wednesday in Asia despite positive trade news. Underperforming Chinese data and a political crisis in Hong Kong supported the safe-haven currency.
The Australian dollar initially tried to rally during the trading session on Tuesday but has given up quite a bit of the gains to form a less than impressive candle. Ultimately, this market looks as if it is continuing to find plenty of resistance at the 0.68 handle.
Based on the early price action and the current price at .6763, the direction of the AUD/USD on Tuesday is likely to be determined by trader reaction to an uptrending Gann angle at .6757 and a downtrending Gann angle at .6742. Both angles straddle the daily pivot at .6749.
Investing.com - The safe haven yen was trading near seven-month highs against the U.S. dollar on Tuesday as investor sentiment was shaken by a currency crisis in Argentina, unrest in Hong Kong and growing indications that trade tensions are hitting global growth.
While there are no stats due out today, the markets will continue to be sensitive to any trade war chatter. There’s also Italy to factor in.
Traders will also be watching for any fresh developments regarding U.S.-China relations especially surrounding the Chinese yuan and its relationship with the 7 yuan to 1 U.S. Dollar level. Any prolonged dips below this level could cause heightened volatility in the financial markets that could drive the Aussie lower.
Geopolitics, the Yuan and a string of key stats may test risk sentiment further in the week ahead, which would support the central bank doves…
The short-term range is .7082 to .6677. Its retracement zone at .6880 to .6927 is the primary upside target. Since the trend is down, sellers are likely to come in on a test of this area.
The Australian dollar has broken down significantly during the week but turned around of form a bit of a hammer. This is obviously very bullish sign but at this point it’s probably more to do with an oversold condition than anything else.
The Aussie dollar initially fell during the trading session on Friday, but then turned around to show signs of support as we broke back above the 0.68 handle. At this point, it looks very likely that the Aussie dollar could bounce a bit, but I think that bounce is simply going to be a selling opportunity at higher levels.