Category: AUDUSD
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AUDUSD Technical Analysis – The price consolidates after the breakout
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Basic Overview The US dollar fell broadly last Friday after the release of the weak US non-farm payrolls report. The data showed further slowdown in the labor market with the unemployment rate rising and wage growth declining. Basically we have an economy that is slowing but still growing. We will…
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AUDUSD runs higher & is breaking out in the process. Can buyers keep the momentum going?
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The AUD/USD pair has been mostly trading between 0.6573 and 0.67134 since early May. This week, the price rose to its highest level since early January. Today, the price corrected lower to hold its old high level near 0.6708/0.6713. The price went up. Then the price corrected down to retest…
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Chart Art: AUD/USD Ascending Triangle Pattern
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Take a look at this classic chart pattern on the 4-hour time frame of the AUD/USD pair! Is the pair preparing for a breakout soon? Or are we about to see more consolidation? These are the near turning points I’m watching. AUD/USD currency pair on 4-hour chart Chart by TradingView…
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RBA could hike rates in August, supporting AUDUSD- UBS By Investing.com
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UBS said it expects the Reserve Bank of Australia to raise interest rates in August after a series of inflation surprises, and that the Australian dollar (AUDUSD) is likely to benefit from such a scenario in the longer term. Australia’s inflation rate has unexpectedly risen for three straight months, raising…
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AUDUSD Technical Analysis – The price action remains rangebound
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Basic Overview The US dollar started the week on a weaker note as the new month began. Last week’s strength may have been driven more by end-of-quarter flows than anything fundamental as economic data did not change interest rate expectations. However, the data should continue to support risk appetite amid…
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AUDUSD buyers & sellers had their shot at breaking this week. Both shot and missed.
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AUDUSD started the week by testing the bottom of the swing zone (going back to early May) near 0.6579 and also the 38.2% retracement of the upward move from the April 2024 low to the May high near the same level. Sellers pushed the price below this level early on…
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AUDUSD Technical Analysis – The soft US CPI weighs on the USD
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Basic overview The US dollar was sold off across the board yesterday after the weak US CPI report. This data has prompted the market to re-price the discounts twice this year. Later in the day, we got a tougher than expected decision from the FOMC as the chart showed that…
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AUDUSD Technical Analysis – We are back at the bottom of the range
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Basic overview The US dollar returned strongly last Friday after the release of the strong US non-farm payrolls report, where the data surprised with strong growth in jobs and wages. There were also negatives such as high unemployment, but overall, we can say it was a good report. The data…
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AUDUSD is one of the weakest of the major currencies as USD moves higher/commodities lower
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The Australian dollar is one of the weak points among the major currencies (along with the New Zealand dollar). Commodities fell sharply on the back of a stronger dollar/higher interest rates/more stubborn Fed. Technically, the price moved lower to test a range of supports including the 38.2% retracement level at…
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Chart Art: AUD/USD Reversal Chart Pattern Forming
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Is this a head and shoulders pattern on the 4-hour chart of the AUD/USD pair? Better be prepared in case the pair breaks below this neckline! How far do you think this Australian pair could fall? AUD/USD Forex 4 Hours Chart by TradingView The Australian dollar appears to be struggling…
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Chart Art: AUD/USD to Extend Its Uptrend?
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AUD/USD finds support in a key area of interest! Will this extend the pair’s month-long uptrend? We take a closer look at the 4-hour time frame for clues! AUD/USD 4-hour Forex chart Chart by TradingView The second half of May has not been a good month for the AUD/USD pair…
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UBS maintains RBA rate cut forecast, weighs in on AUD/USD By Investing.com
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UBS on Thursday provided insight into Australian Federal Treasurer Jim Chalmers’ third budget announcement, which announced a second successive surplus of A$9.3 billion. Despite this positive result, UBS highlighted a projected deficit of A$28.3 billion for the 2024-25 financial year, a wider figure than the Treasury’s previous forecast. The company…
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AUDUSD Technical Analysis – The pair is at a key resistance ahead of the RBA
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The US dollar weakened across the board last week due to a more pessimistic-than-expected FOMC decision, as the Fed decided to signal a further tapering of the QT period starting in June, and Fed Chair Powell also repeatedly backtracked on interest rate hike expectations. . Furthermore, data released on Friday…
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AUDUSD runs higher after US jobs report but stalls at a key ceiling.What next technically?
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AUDUSD rose sharply after the US jobs report. The price rise pushed the pair above the 100-day moving average at 0.6580, a 50% move down from the December high of 0.66159 and up to the ceiling of the key swing zone between 0.6335 and 0.6345. Sellers built on this ceiling…