AUDUSD

The Aussie dollar fell 0.38% in Asian session on Tuesday, following release of minutes of RBA's April meeting. Dovish tone from the central bank, which left the door open for rate cut if inflation remains low and slowdown in GDP offsets positive impact from improve in the labor market. Fresh weakness emerges after bulls stalled on approach to 200SMA (0.7194) and failed to clearly break above 0.7183 (Fibo 61.8% of 0.7295/0.7003), with Monday's Doji adding to negative signal. Dip found footstep at 0.7140 (100SMA), but could extend towards pivotal support at 0.7118 (converged 20/55SMA's). Daily cloud is thinning and will twist next week that could also attract bears, however, bullish momentum remains strong and may limit bears. Ability to hold above 100SMA would keep in play immediate hopes for renewed attack at 200SMA, while further easing and violation of key 0.7120 support zone (Fibo 38.2% 0.7003/0.7192/converged 20/55SMA's would weaken the structure and risk deeper pullback.

Res: 0.7175; 0.7194; 0.7207; 0.7226
Sup: 0.7140; 0.7120; 0.7097; 0.7075

AUDUSD

 

Interested in AUDUSD technicals? Check out the key levels

    1. R3 0.7203
    2. R2 0.7193
    3. R1 0.7183
  1. PP 0.7173
    1. S1 0.7163
    2. S2 0.7153
    3. S3 0.7143

 

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Feed news

Latest Forex Analysis

Editors’ Picks

EUR/USD grinds higher, holding close to 1.1200

As the Fed's decision approaches, the greenback comes under pressure, although the EUR is among the weakest, unable to lift its head after Draghi's dovish words on Tuesday. The Fed's dot-plot and the wording of the statement will seal the dollar's destiny.

EUR/USD News

GBP/USD extends gains above 1.2600, dollar weaker as Fed looms

The American currency eases ahead of the US Federal Reserve announcement, and despite UK inflation failed to impress. Tories will have another ballot today to keep reducing the list of candidates for PM.

GBP/USD News

USD/JPY extends consolidation below 108.50 as markets pause ahead of Fed announcements

For the third straight day this week, the USD/JPY pair is fluctuating in a tight range as investors are eagerly waiting for the FOMC to announce its policy decision and release its updated economic projections.

USD/JPY News

FOMC Preview: to be or not to be 'patient'

That concerns about a global economic slowdown had made policymakers worldwide take a dovish shift is no news. Neither is that the financial market has already priced in at least one rate cut in the US for this year.

FED news

Gold struggles to build on Tuesday's gains, sits above $1340

The troy ounce of the precious metal gained $15 on Tuesday as investors saw gold as a better investment alternative to major currencies amid the dovish shifts seen in central banks' tone.

Gold News

Majors

Cryptocurrencies

Signatures