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Audusdforecast

AUDUSD: USD reached its highest level in 8 weeksThe US Dollar Index rose to 104.18, its highest level since December 2023. The US jobs report released on Friday (February 2) far exceeded market expectations. This information reinforced Fed Chairman Jerome Powell's statement at the end of the agency's policy meeting last week that an interest rate cut in March 2024 was unlikely. Expert Chris Weston, head of research at Pepperstone, said that the optimistic US jobs report basically showed that an interest rate cut in March 2024 is very fragile. According to CME's FedWatch tool, traders are assessing just a 20% chance that the Fed could begin easing interest rates in March 2024, compared with nearly 50% a week ago. The possibility of cutting interest rates in May 2024 is also possible. Currency expert Carol Kong at Commonwealth Bank of Australia (CBA) said that the USD is likely to stabilize at its recent increase. US Treasury bond yields also skyrocketed due to expectations that interest rates will increase in the long term. Benchmark 10-year yield increased 5 basis points to 4.0829%
Long
by Chart_MasterPro
AUD/USD Gains Positive Momentum Amid Global Market DynamicsAUD/USD Gains Positive Momentum Amid Global Market Dynamics The Australian Dollar (AUD) is riding a wave of positive momentum during Friday's European session, extending its bullish trend from earlier in the week. A brighter sentiment in European markets and some profit-taking after a robust US dollar rally are contributing to the Aussie's upward trajectory. Technical Analysis: The price action tells an encouraging story, bouncing off the 0.6525 support zone, strategically located at the 50% and 61.8% Fibonacci levels. This rebound, in conjunction with the Dynamic trendline, has propelled the price above the 200-day moving average. Adding to the bullish outlook, the Stochastic indicator is poised to exit the oversold condition. These combined indicators present favorable signals for a potential new bullish impulse, suggesting an upward movement in the price. US Data Influence: Recent data from the United States has lent support to the USD, with jobless claims declining against expectations last week. This supports the narrative of a resilient US economy, challenging the earlier market sentiment that had priced in rate cut expectations in December. The USD's strength is a crucial factor influencing global currency movements, including the AUD. China's Economic Struggles: On the flip side, data from China has added a layer of complexity to the global economic landscape. The fourth quarter's GDP and Retail Sales figures fell below expectations, underscoring challenges in the world's second-largest economy. This has left investors eager for more robust stimulus measures and heightened negative pressure on the Australia-proxy AUD. Outlook and Targets: In light of the technical indicators and the broader market dynamics, we anticipate a bullish continuation for the Australian Dollar. Our targets are set at 0.6700 and above, reflecting our optimism for sustained upward movement. However, market participants should remain vigilant, considering the ever-changing global economic landscape, and adjust their strategies accordingly. Conclusion: The Australian Dollar's positive momentum is a testament to the intricate interplay of global market dynamics. Technical indicators align with the bullish sentiment, while factors like USD resilience and China's economic struggles add layers of complexity. As the AUD charts a path towards higher levels, traders should stay adaptable and closely monitor evolving economic indicators for a comprehensive understanding of the currency's trajectory. Our preference Long positions above 0.64 with targets at 0.68 & 0.69 in extension.
Long
by FOREXN1
5
AudUsd could drop under 0.63 againFor the past 3 years, AudUsd has been in a downtrend, with the pair dropping almost 2,000 pips from its peak in February 2021, which was around the 0.8 zone. In November 2023, the pair initiated a reversal from a support zone, and by December, it even broke above the descending trend line, reaching a horizontal resistance level at 0.69. However, this upward breakout, initially perceived as a reversal of the downtrend, turned out to be a false break. AudUsd dropped back below the descending trend line, signaling strong bearish implications. Currently, the Australian dollar is hovering around the crucial 0.65 support level. A breach here could lead to a drop and a test of support around the 0.63 zone once again. I maintain a bearish outlook at this moment and will continue to do so as long as the pair remains below 0.66.
Short
by Mihai_Iacob
AUD/USD remains trapped beneath its 200-day EMAAUD/USD fell from the late-December high to mid-January low in a fairly straight line, so it is no surprise to see prices have consolidated. However, the consolidation cannot last forever so we're looking for its next directional. Given the Aussie has failed to rally despite 'good news' from China, perhaps a spell of bad news could send it lower. That, or a softer-than-expected inflation report on Wednesday. The daily chart shows the Aussie has repeatedly failed to post a daily close above its 200-day EMA, and has left a series of shooting star candles along the way. Bears could consider fading into retracements towards the 200-day EMA wit a stop well above it, and target the 0.6500 - 0.6520 support zone. AN RSI (2) above 90 could also help time a short trade as it could indicate a near-term top.
Short
by CityIndex
AUDUSD: AUD/USD eased slightly, while the Australian stock markeImmediately after better-than-expected inflation data, the Australian dollar fell again. In addition, weakening inflation has also provided the market with more information about the RBA's interest rates in the coming time when the Reserve Bank of Australia has had many difficulties in controlling inflation and has only stopped raising interest rates. interest rate in November. Currently, the market is expecting that the RBA will have a 50 bps interest rate cut in 2024.
Long
by Chart_MasterPro
AUDUSD - Accumulation phase ✅Hello traders! ‼️ This is my perspective on AUDUSD. Technical analysis: Here we are in an acccumulation phase so I expect we could see AMD pattern, price firstly to manipulate buy side liquidity and to fill the imbalance higher, then to distribute lower. Fundamental news: On Friday we will see results of NFP and Unemployment Rate. Pay attention to the results in order to validate the analysis. Like, comment and subscribe to be in touch with my content!
Long
by Snick3rSD
AUDUSD: Fed and BoE interest rate decisions, economic data and UEconomic calendar with market-impacting events including the latest Fed and BoE monetary policy decisions, US NFP reports, German and Eurozone fourth-quarter growth, manufacturing PMIs and Chinese services, German and Euro zone inflation data. In addition to the economic calendar, a series of major US technology companies will announce their latest fourth quarter business results. On Tuesday, Alphabet (GOOG) and the world's largest company Microsoft (MSFT) will release financial reports, while on Thursday, Amazon (AMZN), Apple (APPL) and Meta Platform (META) will release financial reports. Announce earnings after the market closes. The US stock market continues to set new records as investors remain determined to take risks. The upcoming earnings announcement of the "Magnificent 7" will weigh on the indexes due to the large proportion of these businesses and put the market at risk. Last week Tesla (TSLA) disappointed the market and fell about 12% following their earnings release.
Long
by Chart_MasterPro