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The upward-facing USD/CHF pair was aiming to breach above the overhead red Ichimoku Clouds. After displaying three consecutive positive sessions in a row, the Japanese Yen pair was attempting to breach above the 106.742 resistance.
The Aussie dollar continues to go back and forth during the Tuesday session, testing the resistance above, but it does look as if we are simply killing time to try to figure out which direction we are going next.
Based on the early price action and the current price at .6783, the direction of the AUD/USD on Tuesday is likely to be determined by trader reaction to the uptrending Gann angle at .6767.
The RBA looks set to hold on rates near-term. For the day ahead, a lack of stats will leave the markets exposed to any trade war chatter.
The RBA minutes should offer nothing new for investors and should take on a somewhat dovish tone. However, the primary focus for investors this week will be speeches by Governor Lowe and Fed Chair Jerome Powell at the Jackson Hole Symposium.
Investing.com - The U.S. dollar was flat on Monday in Asia as traders remained cautious ahead of Federal Reserve minutes due later this week.
The price action suggests traders have a limited bias early in the session. However, holding above the pivot at .6740 suggests a support base may be forming.
The Reserve Bank of Australia Monetary Policy Meeting Minutes will be featured on Tuesday. Traders will be looking for clues that could help them determine the frequency of future rate cuts by policymakers.
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 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.