AUD/USD Price Forecast: Doji high guards bulls as Fed bets bite
AUD/USD Price Forecast: Positive Divergence with RSI backs further recovery
AUD/USD came under heavy pressure as surging crude oil, rising Treasury yields and hotter producer-price pressures revived expectations of a September Fed hike. The Australian dollar led FX majors lower as the US dollar rebounded, while Wall Street weakened ahead of CPI.
AUD/USD Price Forecast: Sits near May 14 high, above 0.7200 as US inflation data looms
The US dollar failed to hold its gains following a significantly stronger-than-expected US employment report. The economy added 162,000 jobs versus the forecast of 56,000, while the unemployment rate remained at 4.1% and previous employment figures were revised higher.
AUD/USD Price Forecast: Approaches four-year high near 0.7280
AUDUSD extends the latest upleg from 0.7121 higher low into fifth consecutive day, underpinned by growing expectations for RBA rate hike at the policy meeting on Sep 29.
In this webinar we take an in-depth look at the technical trade levels for the US Dollar (DXY), Euro (EUR/USD), British Pound (GBP/USD), Australian Dollar (AUD/USD), Canadian Dollar (USD/CAD), Japanese Yen (USD/JPY), Swiss Franc (USD/CHF), Gold (XAU/USD), Crude Oil (WTI), Bitcoin (BTC/USD), S&P 500 (SPX500), Nasdaq (NDX), and Dow Jones (DJI). These are the levels that matter on the technical charts into the weekly open.
The euro enters this week's ECB meeting (September 9–10) with genuine hawkish backing, having already been told by insiders that policymakers are prepared to raise rates again to counter the inflationary side-effects of the Middle East conflict, even as they signal little appetite for tightening beyond that. July's hold at 2.25% came with Lagarde explicitly warning that renewed hostilities and the resulting oil price rebound pose upside risks to the inflation outlook, keeping the door firmly open to a move back to 2.50% this week.
AUD/JPY cross has followed a rare pattern where strong commodity prices have not strengthened the Australian dollar. We discuss what it means
AUD/USD Price Forecast: Poised to test multi-year top near 0.7270-0.7275 amid bullish setup
AUD/USD has pushed firmly above the .7200 level to trade at its highest since early May, continuing to benefit from buoyant risk appetite, hawkish RBA pricing and continued weakness in the US dollar, particularly against Asian currency names. With the technicals aligning with the fundamentals, the topside break will have bulls eyeing a potential retest of the year-to-date highs in the days ahead.