AUD/USD Pushing higher after RBA left rates unchanged

The Australian Dollar is trading up with 0.54% at above 0.7427 level against the US Dollar. In line with the expectations the Reserve Bank of Australia left its cash rate unchanged at 1.50%. Inflation and wages remain low and the statement of the bank was broadly unchanged from the previous monetary policy meeting.
Technically speaking the short-term outlook remains bullish. On the four hour time frame the price is developing above its flat 50-day and 100-day SMAs and the 20-day SMA has turned to north. RSI has eased around 65 level  while stochastic is showing strong bullish momentum and is entering extreme overbought conditions.
Now bulls are eyeing the resistance at 0.7445 which is broken will open doors for testing the next one - July 10 high at 0.7484 and higher at 0.7531. Looking to the downside the pair founds support at 0.7348 (Friday’s low), 0.7310 (July 2 bottom) and 0.7184.

AUD/USD Above 0.7400 ahead of Powell's speech

The AUD/USD pair is trading within tight range today around 0.7400, having marked daily high at 0.7437 during the Asian session. During the early trading hours the RBA meeting minutes revealed that the next move on rates in Australia will likely be up, once the unemployment lowers and inflation marks growth. Meanwhile the US dollar is gaining strength ahead of US federal Reserve’s chairman Jerome Powells testimony in Congress later on today.
Technically speaking the short term outlook remains neutral. On the four hour time frame the price is developing between its flat moving averages. RSI and stochastic are displaying bearish slopes slightly below their mid-lines and still remain far from extreme negative territories. According to above readings a risk of downward continuation will appear only is case of breaking the support at 0.7370 en route to next one at 0.7330. On the other hand bulls could get some love if pushing above the daily high and then next target will be offered by the resistance at 0.7490.

AUD/USD Looking for new support

Since last Wednesday the AUD/USD pair reversed the trend and switched into bearish mode.Today the pair extended its decline and marked fresh new low at 0.7678, where currently is located. 

During the early trading hours Aussie topped at 0.7720 being supported by the upbeat macro data from Australia combined with the latest RBA minutes, reconfirming that low interest rates support the economy recovery. It will be interesting to observe the pair during next session as meanwhile the US dollar is consolidating gains ahead of FOMC meeting tomorrow.

Technically speaking the short term outlook remains bearish. On the four hour time frame the price is developing well below its bearish moving averages. RSI and stochastic have settled within extreme negative territories with first staying directionless around 30, and second aiming even lower. 

Last week the pair broke significant support level provided by the 61.8% Fibonacci retracement of latest bullish run (0.7500 -0.8135) at 0.7750 and this opened doors for the further decline that currently we are witnessing. From this point Aussie now is looking for new support and in case drops below the daily low, such could be found at 0.7630 (Mid December 2017 lows).

AUD/USD In sideways consolidation ahead of RBA

AUD/USD was uplifted today, supported by higher copper prices having marked daily high at 0.7956 and low at 0.7890. However the pair was unable to keep steady gains and entered into sideways consolidation just ahead of important macro events coming from Australia tonight. The trade balance data for December and January retail sales are due, but the highlight of the day will be the RBA meeting. It’s largely expected that the central bankers will keep unchanged the rates at 1.5%.

And expectations make Aussie weaker. Technically speaking the short term outlook for the pair remains bearish. On the four hour time frame the price is very close and is likely to break the support provided by the 38.2% Fibonacci retracement of latest bullish run around 0.7890, where today found bottom. RSI and stochastic are located within negative territories and both are showing bearish momentum.

In case of breaking the above mentioned level, next hurdle for bears is seen at 0.7850, followed by 0.7820. On the flip side first resistance comes at 0.7956 and second at 0.7985.

AUD/USD Higher

Aussie gained traction today and is seen hovering around mid 0.76s amid lack  of strong fundamentals DXY extended its downward slope to a fresh two week low, backed up by weakened US dollar coming form the jitters surrounding the outcome of the tax bills reforms. 

Friday’s bottom has been left behind today’s gains and AUD/USD is entering the Asian session in uplifted mood. Since marking low at 0.75 in 8th of December, the pair has been recovering ground, supported by good macro data from Australia. 

Technically speaking, the short term outlook remains bullish. On the four hour time frame the price is moving above all its moving averages, having 20-day SMA with strong bullish momentum and flat 100-day and 200-day SMAs. RSI is located around its 60 level, but has lost directional strength. Stochastic has turned sharply to north although is at its mid-line. 

Yet the 0.7700 remains critical zone and first bulls’ challenge and in case of conquering it, doors are opened for testing 0.7730 (November’s high). 

RBA minutes are due tomorrow with expectations of no change on its current  monetary policy, but amid no major other news and weak greenback, Aussie favors to the upside. 

AUD/USD Pops up and drops down

Aussie pinned a new fresh three weeks high at 0.7653 in the early Asian session. Fantastic macro data came from Australia, having retail sales up with 0.5% from previous upwardly revised 0.1%, the Q3 current account balance posted a deficit of 9.1B, improved from previous -9.7B and alongside backed up by Caixin Services PMI printing better than expected figures.Meanwhile RBA decided to keep rates unchanged on its monthly monetary policy meeting.

But the bulls enthusiasm was short-lived as gold plummeted to two months low and added pressure on the Aussie. The AUD/USD pair dropped to 0.76 area and currently is trading at 0.7604. 

On the four hour time frame th 20-day SMA eased and from bullish has turned flat, while the 100-day and 200-da SMAs are keeping bearish slopes. Stochastic retreated from extreme oversold area and currently is showing strong bearish momentum, crossing its mid-line. RSI is located around mids and has lost directional strength. 

As seen on the same chart, the price is caught between its bearish SMAs and there is a risk to the downside. If crossing to below 0.7575 (last week’s low), the pair will be poised to extend its decline towards next support at 0.7530 (November’s low). 

Tomorrow are due numbers on Q3 GDP in Australia, with growth seen at 0.7% from previous 0.8% and this makes the pair vulnerable and gives another hesitation for Australian bulls.

AUD/USD tumbled on dovish RBA

In the early Asian session Aussie fell to 0.7530, a level that has not been visited since late June. The mover for this sharp drop is the dovish RBA minutes, as the central bankers are concerned about the job market outlook and slow growth in wages and there for will keep neutral stance for the foreseeable future.
AUD/USD rebounded from the five month low during the Europe trade and the current market price is 0.7575. The recovery was supported by RBA Governor Phillip Lowe's remarks that next move in rates would most likely be up rather than down, which fuelled the Australian Dollar bulls.
On the four hour time frame the price is below its bearish 100-day and 200-day SMAs and few pips above the 20-day SMA, also bearish. Stochastic is showing strong upward momentum and is slightly above its mid-line, while RSI is located at the mid and has lost directional strength.
The pair remains well supported by the key level at 0.7500, but if breaking it, doors are opened for testing early May’s low at 0.7330. Looking to the upside, 0.7585 is first bulls target and in case of conquering it, the pair would be seen beyond 0.7600.

AUD/USD Uplifted after RBA statement

AUD/USD moved higher today following the RBA policy announcement and statement. Centrals bankers, as expected, are keeping the cash rate unchanged at 1.5% and sounded a bid mild having recent weak economic data.
Aussie cheered up on the news and jumped to 0.7701, but the  euphoria didn’t last long the pair turned to the downside with current market price 0.7662.
On the four hour time frame the price is developing below all its moving averages, having the 100-day and 200-day SMAs with bearish slopes while the 20-day SMA is staying flat few pips above the current rate. RSI is located around its mid-line, but is showing strong bearish momentum. Stochastic is slightly above the mid, but has started to turn to south.  
Immediate support is seen at 0.7650 and in case of breaking it to below, the pair would be poised to extend its decline towards the key level at 0.7600. Looking to the upside, 0.7700 remains first challenge for the bulls, which if conquered next target will be 0.7725.

Aussie extends weakness after RBA minutes and US upbeat data

Aussie continues to run on the downside and today dropper to four week  low, having marked daily low at 0.7805 with closure around 0.7820. 

The minutes of the latest RBA rate decision are hinting some disinflationary impact of the strong currency and are taking note of a potential economic slowdown in case the Australian Dollar extends the rally. 

However, the pair’s decline was much more supported by the US Dollar’s strength today due to the US upbeat retail sales report today. 

The four-hour time frame is showing that the price has crossed to below its 20-day SMA, while the 200-day SMA pushed above it. RSI ans stochastic are displaying strong bearish momentum and are currently located within oversold territories. 

Strong support is seen at 0.7785 (July’s low) and in case of breaking it, bears might attempt next one at 0.7740. Looking to upside, first resistance is located at 0.7860 and second at the physiological level at 0.7900.

Aussie couldn’t fight 0.8000

During the Asian session the AUD/USD pair pushed higher and marked daily high at 0.8042, but later retreated  to lower levels and the current market price is 0.7975. Of course strong fundamentals influenced as this drop occurred right after the RBA's monetary policy announcement. The Central Bank of Australia kept the rates unchanged at 1.5% and meanwhile expressed solicitudes about the stronger Australian dollar that would press down the inflation and growth. 

Technically speaking on the four-hour time frame the Aussie is showing some bearish signals. The price has crossed to below its 20-day SMA while the 100-day SMA is keeping slight bullish slope. Stochastic has turned sharply to south and surpassed its mid-line. RSI is also bearish but is currently located around 50. 

First support is seen at 0.7935 (last week’s low) and in case of breaking it the pair will be poised to extend its decline towards 0.7875.    

Elegantly Wasted

During the recent years the Aussie has become a favoured vehicle for traders. The attractiveness is written by the interest rate differential in the pairing, which enrolled security due to the opportunity to earn rollover for being long on AUD/USD. Well the massive bull run is not seen lately, as the pair is strongly correlated with economic difficulties in China along with the bearishness in commodities and metals market. Currently the Aussie is elegantly wasted in the lustreless frame of Autralia’s financial development. 
The recent tides on the forex market brought ebb. The pair marked three-weeks low at 0.7545, mainly influenced by the dovish RBA this morning.  

AUD/USD took steeper move to downwards and surpassed the significant support at 0.7588 (61.8% FIbonacci retracement of 0.7489 to 0.7747). This figure increases the risk of longer term decline, which finds confirmation with technical indicators, as it’s clearly seen on the four-hour time frame. Both RSI and stochastic are located within extreme oversold territory, but have lost directional strength, while the 20-day SMA has turned sharply to south.Fresh bears will attempt to test 0.7540, but more important is to be aware of 0.7380.

As INXS sing, this ain’tthe good life. Don’t look at all that shines, the spirit is not running with this pair. 

AUD/USD stuck between 0.76-0.77

The release of the RBA Minutes showed that the low rates will be maintained a while longer. The bad figures in Q3 GDP,  lower than expected consumption growth and the inflation expectations raised doubts over the appreciation of the national currency that might cause difficulties to economic transition. Amid those concerns the AUD/USD pair today is holding within the well know tight range between 0.76 – 0.77. Looking at the four-hour time frame, the price is trying to move above the 20-day SMA, which has turned into bearish mode. Meanwhile the 100-day SMA is acting as a dynamic support. Technical indicators have recovers from oversold readings. RSI is slightly above mid-lines, but is loosing strength and Stochastic is showing strong bullish momentum. So far there is nothing sure to confirm bullishness. The key resistance at 0.77 is being long term lived and as long as holding above 0.76, the down slide remains unlikely.  

US dollar fade out lines

The US dollar is going deeper down,
along with the poor GDP noticing,
the dovish Fed’s spelldown
and against the plethora of G20 under performing.

The clock is ticking some couple of tocks
and markets will re-estimate next Fed’s knocks.

Chipping around, kicked by EUR’s rally towards 1.12 mark
where EUR/USD pair more than a month couldn’t park.
RBA failed to weaken the Australian dollar
and the yen was seen in a new fresh 3-week spur.

These are the days – it never rains but it pours.
Circumstances laugh under the pressure the USD is cracking.
US dollar index as well regrettably sours
and in 3 months the biggest fall is posting.

Over the greenback the shadow grows, but shall it leave broken pieces to this priceless ballet?

AUD/USD down with 2.3%

The aussie fell against the major currencies after RBA’s decision to cut interest rates.

The currency was subjected to sales, falling to 0.7555 right after the news sails .

Last week the Australian dollar was under tension due to disappointing data on inflation.

This led to the most sharp daily spears for the past three years. 

The decision of the central bankers was somewhat expected by market partakers

after CPI fell by 0.2% in the first quarter of the year,

based on expectations of growth with the same figure.

Thereupon AUD/USD was softly creeping, along with bulls slowly retreating.

Planted in the daily lows, aussie’s weakness grows.

Around 0.7490 today the pair was hovering with 2.30% weakness showing.

The strong support at 0.7560 held the pair and until trading above it, will grow higher.

Bulls warning is flashing with 0.7640 level targeting.