|Day's Range||0.709 - 0.715|
|52 Week Range||0.7043 - 0.8136|
The Euro is looking for a bottom on the longer-term charts, and as you can see on the accompanying chart, I have a yellow circle around the massive hammer underneath the 1.1450 level. That’s an area that I think continues to hold this market up, so this point I would expect a bit of a bounce.
The Australian dollar shows signs of trying to form a bit of a bottom down here, as the 0.70 level of course would attract a lot of attention due to it being a large, round, psychologically significant figure.
The Australian dollar rallied significantly during the day on Friday but continues to see a significant amount of resistance near the 0.7150 level. Because of this, the upside I think is still a bit, and I am a bit hesitant to get overly excited about going long of this pair, even though I could potentially see this market going all the way to the 0.72 handle above.
Investing.com - The U.S. dollar was lower on Friday as bond yields continued to hold near a one-week high, while the euro was higher.The U.S. dollar index, which tracks the greenback against a basket of other currencies, fell 0.13% to 95.60 as of 10:57 AM ET (14:57 GMT).Treasury yields were higher, with the United States 10-Year note at 3.192%, not far from a one-week high of 3.211% on Thursday. Bond yields rose after hawkish Fed minutes on Wednesday showed the central bank's conviction in gradually increasing interest rates in December and beyond. ...
Investing.com - The yuan was little changed on Friday after official data showed China’s third quarter GDP growth slowed more than expected.
There’s not much to look at from the data front. Traders will mostly be focused on risk sentiment. If risk is on, the AUD/USD could catch a bid. If risk is off and stocks fall and the dollar rises then look for pressure.
The Australian dollar initially took off on Thursday, reaching the top of the recent consolidation area, but then turned right back around the show signs of weakness as the Americans stepped on board. It looks as if we are simply going to continue to consolidate in the short term.
China sees its slowest growth since 2009 to rile the markets in the wake of a Thursday sell-off that came off the back of positive stats out of the U.S.
Investing.com - The U.S. dollar was higher on Thursday as bond yields rose and minutes from the Federal Reserve’s September meeting supported a rate increase in December.The U.S. dollar index, which tracks the greenback against a basket of other currencies, rose 0.13% to 95.47 as of 10:57 AM ET (14:57 GMT).Treasury yields were higher on Thursday, with the United States 10-Year note near a one-week high of 3.211% and the 2-year note at a 10-year high. ...
Investing.com - The Chinese yuan slipped against the dollar on Thursday as the U.S. held off from labeling China as a currency manipulator.
The Aussie dollar has been very noisy during the trading session on Wednesday, pulling back rather significantly, but we can already start to see buyers jump into this market. I think the market is trying to go to the next major round number, just above at the 0.72 handle.
It’s all eyes on the Pound, with Brexit news and UK retail sales figures to provide direction through the day. Any progress on Brexit to be the key driver.
Investing.com - The U.S. dollar rose on Wednesday as traders waited for the latest meeting minutes from the Federal Reserve, while sterling was pushed lower over Brexit worries.The U.S. dollar index, which tracks the greenback against a basket of other currencies, rose 0.34% to 95.10 as of 11:07 AM ET (15:07 GMT).The meeting minutes from the Fed are released at 2:00 PM ET (18:00 GMT). The central bank took a more hawkish tone at its September meeting when it raised interest rates and dropped the word “accommodative” from its policy stance. ...
The market could witness significant buying interest around the 1.31 and 1.30 level, all which are strong support points. The 0.71 and 0.70 levels underneath are the strong support points and the market is likely to hold on the levels. The pair retraced from the 61.8% of the Fibonacci level at 111.50 level, an area which has been important in the past.
Based on the early trade, the direction of the AUD/USD on Wednesday is likely to be determined by trader reaction to the uptrending Gann angle at .7122. This angle has been guiding the Forex pair higher since October 5.
Strong U.S. economic data and hawkish Fed minutes should be bullish for Treasury yields which will make the U.S. Dollar a more attractive investment and put pressure on the Australian and New Zealand Dollars.
The Australian dollar continued to grind higher during the day on Tuesday, breaking above the 0.7140 level, and looking very much likely to continue going higher. At this point, the Aussie seems to be trying to build a bit of a base and recover from the recent selling pressure.
While we can expect some focus on the FOMC minutes, it’s all about the GBP and the EUR today, the EU Summit putting Brexit and Italy in focus.
Investing.com - The U.S. dollar was under pressure on Tuesday as sterling stayed near the session high.The U.S. dollar index, which tracks the greenback against a basket of other currencies, was down 0.09% to 94.68 as of 11:23 AM ET (15:23 GMT).The greenback remained under pressure despite upbeat jobs data showing the U.S. economy has continued to strengthen, increasing the chances of a Federal Reserve rate hike in December.U.S. job openings rose to 7.14 million in August, according to the Labor Department’s monthly JOLTs report. ...
Even after recovering from 1.1430-25 support-zone, the EURUSD has to surpass 100-day SMA level of 1.1630 in order to justify its strength in targeting the seven-month long descending resistance-line, around 1.1730. Should prices rally beyond 1.1730 on a daily closing basis, the 1.1810 & 1.1850 are likely intermediate halts that can be availed prior to aiming the 1.1920 level, comprising 200-day SMA. In case the pair witness downside pressure, the 1.1520, the 1.1500 and the 1.1430 may entertain short-term sellers before again highlighting the importance of 1.1430-25 area. ...
The initially gapped lower during the Monday’s session in a bit of risk-off move, but then started to rally higher as American came on board. The 1.16 level is continuing to offer a bit of resistance to the pair and if it breaks higher then it next major stop for the market will be at 1.17 level. The market is still in the consolidation phase and 1.15 level underneath will be the strong support point for the pair. Buying on dips will be the right strategy for this market. …Read MoreGBP/USD
Based on the early price action, the direction of the AUD/USD the rest of the session is likely to be determined by trader reaction to the uptrending Gann angle at .7112. This angle has been guiding the market higher since October 5.
The Australian dollar rallied on Monday to break towards the 0.7150 level. If we can break above that level, the market should continue to go even higher. However, I think that the market will struggle to rally for the longer-term, especially near the 0.72 handle.
According to Statistics New Zealand, headline consumer price inflation (CPI) jumped by 0.9% in the three months to September, the largest quarterly increase since the first three months of 2017.
If upside momentum begins to build over .7140 then look for buyers to make a run at the 50% level at .7178 over the near-term. Treat .7140 like a pivot into the close.