USD Trading Outlook Archive

AUD/USD Tight ranges dominated overnight and most of NY trade. The miss to the US C/A barely moved AUD/USD within of its 0.9327/47 o/n range. Action picked up quickly after the Fed. An initial spike lower in US yield due to lowered 2014 GDP forecasts… Read more

AUD/USD Local bids stymied Europe’s bear run and a short covering lift took hold heading into NY’s open. The pair sat near 0.9355 as NY. the lift persisted but halted at 0.9366. Offers near the 200 hour MA (0.9373) aided in capping gains. The above… Read more

The Australian Dollar (AUD): Size orders in the 0.9430/40 met buyers in early Europe. A sharp rise in US yield then saw AUD/USD slammed towards 0.9380. It sat nearby as NY got going. Above f/c US data and a short covering rally in EUR/AUD up… Read more

AUD/USD Intraday: bullish bias above 0.936. Pivot 0.9360 Our preference Long positions above 0.936 with targets @ 0.9435 & 0.946 in extension. Alternative scenario Below 0.936 look for further downside with 0.9335 & 0.9315 as targets. Comment The RSI lacks downward momentum.

EUR/USD – under pressure The pair has validated a falling wedge pattern and has broken below the 200-day moving average. Moreover, the daily RSI is badly directed and not oversold. Further weakness is therefore expected below 1.3780 with 1.3450 as a first target (previous overlap)… Read more

USD/JPY and the JPY crosses traded soggy in Asia. Japanese exporter sales into the Tokyo fix outweighed Gotobi buys from Japanese importers. This and Nikkei sogginess saw most pairs lower. USD/JPY fell back from 102.60, just shy of yesterday’s 102.65 high, to 102.31. Bids returned… Read more

Forex pair of the day EUR/NOK – rebound expected The pair is pulling back on its strong support ahead of a rebound as the daily RSI is reversing up above its oversold area. Therefore, as long as 8 holds as a support (previous overlap and… Read more

EUR/USD The generally below f/c Final EZ PMIs aided a EUR/USD drop to 1.3594. The slide halted on profit taking ahead of the ECB by a short market and talk of a reserve manager bids near 1.3590. The pair bounced near 1.3610 as NY got… Read more

Forex pair of the day GBP/USD – within a bullish channel The pair has validated a bullish flag and is facing a pull back on the lower boundary of a MT bullish channel. Moreover, the moving averages remain well directed. Therefore, as long as 1.6450… Read more

Forex pair of the day AUD/USD – above a strong support The pair faced a pull back on its support and is posting a rebound. Further advance is likely as the 200-day moving average behaves as a support and the daily RSI is reversing up… Read more