Dukascopy Bank Team
Dukascopy Bank SA
AUD/USD
The Australian Dollar appreciated about 61 basis points against the US Dollar on Tuesday. The currency pair tested the upper boundary of a descending channel pattern at 0.6800 during Tuesday's trading session.
After hitting the upper border of the descending channel, the exchange rate began to decline. Currently, the pair is testing a support cluster formed by the 50-, 100– and 200– hour SMAs.
If the support cluster holds, the currency exchange rate will continue its upside movement today.
However, if the rate passes the SMAs, a decline towards the 61.80% Fibonacci retracement level could be expected within this session.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
Latest Forex Analysis
Editors’ Picks
AUD/USD stays under pressure around 0.6830 while beginning the NFP day
AUD/USD declines to 0.6830 during the initial Friday morning in Asia. The quote stretches losses made on Thursday as the second-tier Aussie data becomes the latest disappointment.
USD/JPY resumes decline after faltering around 109.00
The USD/JPY is ending the day with modest losses, as despite encouraging words from US trade representatives, there’s nothing new on a trade deal with China.
US Non-Farm Payrolls November Preview: Labor market continues to defy concerns
Non-farm payrolls are predicted to rise 180,000 in Nov following Oct’s 128,000 increase. The unemployment rate is expected to be unchanged at 3.6%. Hourly earnings will gain 0.3% in Nov after October’s 0.2% increase and annual earnings will be stable at 3.0%.
Gold: Modestly changed to $1475 as markets turn cautious ahead of US NFP
Gold fails to extend the previous day’s recovery while trading near $1475/76 amid Friday’s Asian session. That said, the yellow metal registers failures to close beyond 50-day EMA for the third consecutive day.
USD/JPY resumes decline after faltering around 109.00
The USD/JPY is ending the day with modest losses, as despite encouraging words from US trade representatives, there’s nothing new on a trade deal with China.