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Audusdlong

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: 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
AUD/USD Shows Strength Amidst Geopolitical Tensions and Techn...AUD/USD Shows Strength Amidst Geopolitical Tensions and Technical Signals In a surprising display of resilience, the AUD/USD pair traded higher on Monday, rebounding from the 50% Fibonacci level following a significant pullback to the support level at 0.65250. This rebound was reinforced by the dynamic bullish trendline, which has proven to be a reliable support. Notably, the price surged above the 200 moving average, while the RSI moved out of oversold conditions. Geopolitical Developments: Despite heightened geopolitical tensions and a stronger US Dollar (USD), as evidenced by a tragic drone attack near a US outpost in Jordan, the Australian pair exhibited notable strength. The incident, which resulted in casualties among US service members, has prompted the Biden administration to consider specific plans for a response, potentially including strikes into Iran. Market Dynamics: Australia's money market remains stable, buoyed by upbeat crude oil prices. The AUD's resilience could also be attributed to news of additional stimulus measures by the People's Bank of China (PBoC). The Reserve Bank of Australia’s (RBA) Bulletin reflects a moderation in businesses' price growth expectations over the past six months, though prices are anticipated to stay above the RBA's inflation target range of 2.0–3.0%. Despite this, the RBA is expected to lower borrowing costs later this year. Upcoming Economic Indicators: Investors eagerly await Tuesday's Australian Retail Sales, anticipating a decline of 0.7% compared to the previous increase of 2.0%. Additionally, attention is focused on Wednesday's Consumer Price Index (CPI) data. Forecast: Despite the complex geopolitical landscape and economic indicators, our forecast for AUD pairs remains bullish. We are eyeing a take profit at the 0.6700 level, aligning with the positive technical signals and the overall strength exhibited by the Australian Dollar. Traders are advised to stay attentive to evolving market dynamics and adjust their strategies accordingly. Our preference Long positions above 0.64 with targets at 0.68 & 0.69 in extension.
Long
by FOREXN1
3
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
AUDUSD M30 / SHORT TRADE OPPORTUNITY 📉Hello Traders! This is my idea related to AUDUSD M30. I expect a bearish move after the retracement from the Resistance level, the exact level where we have also fibo 50%. My target is below the BOSS. Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective. ____________________________________ Follow, like, and comment to see my content: www.tradingview.com
Short
by GoodTradeST
AUDUSD: The foreign exchange market is quiet, the USD is stable Most Asian currencies remained weak on Wednesday, with the dollar hovering near a six-week high as markets awaited further signals on when the Federal Reserve would start cutting interest rates. The Australian dollar weakened by 0.1%, although January's PMI data showed improvement in manufacturing and services activity. The Australian dollar, which is often used as an indicator of overall Asian markets' risk appetite, is also trading near seven-week lows. The US dollar has stabilized near six-week highs as the economy continues to grow. Data, Fed meeting underway The dollar index and dollar index futures each fell 0.1% in Asian trade, after rising earlier to their highest since early December. The dollar got off to a strong start to 2024, with solid inflation and jobs data showing traders' expectations that a Fed rate cut was imminent have largely dissipated. That perception was further exacerbated by a series of hawkish comments from Fed officials last week. The focus now shifts to fourth-quarter gross domestic product (GDP) data scheduled for release on Thursday and data on the PCE price index, the Fed's preferred inflation measure, scheduled for release on Friday. Signs of a recovery in economic growth and inflation would give the Fed more incentive to keep interest rates high for longer periods of time. The reading also came days before the Fed's first meeting in 2024, when the Fed is widely expected to keep interest rates at a 23-year high. However, the Fed is still expected to start cutting rates before the end of the year, and traders will be watching for any such signals from the meeting.
Long
by Chart_MasterPro
AUD/USD Trade alert: Strong USD vs RBA's rate decisionAUD/USD Trade alert: Strong USD vs RBA's rate decision Talk of a US$278 billion (1 trillion yuan) rescue package for Chinese shares might not be enough to support AUD/USD. Countering this positive signal for the AUD is general US dollar strength, caused by a shift in the market regarding the likelihood of a March rate cut. At the turn of the year, it was priced above 80% probability, but that's now fallen to 42%. On the daily chart, we can see the AUD/USD testing on the key support zone at 0.6550 with some consolidation just above this level before the next move. Looking a little further ahead, AUD might find the upwards momentum it needs with Australia's inflation rate data released on January 30 next week, followed closely by the Reserve Bank of Australia's interest rate decision on February 5. The inflation figure is the last major report the RBA will have to consider before it meets next week for its first interest rate decision of 2024. Will they keep their rate unchanged on February 5 or surprise the market with another 25-basis-points hike and give a pop to the AUD/USD?
by BlackBull_Markets
1