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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
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: 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 SELL | Day Trading AnalysisHello Traders, here is the full analysis. Watch strong action at the current levels for SELL . GOOD LUCK! Great SELL opportunity AUDUSD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Short
by TheGrove
1
DeGRAM | AUDUSD is near the psychological levelAUDUSD is trading near the psychological level at 0.66000. The market made a pullback in the form of an ascending channel. The price is in a bearish trend, and most likely it will continue going down, breaking the ascending channel. The market created the bearish harmonic pattern, which is extra confirmation at the resistance level. ------------------- Share your opinion in the comments and support the idea with a like. Thanks for your support!
Short
by DeGRAM
1
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