OctaFX | OctaFX Forex Broker
Open trading account

Forex: AUD/USD pauses the bleeding above 1.0240

AUD/USD has tumbled Wednesday more than -1.23% from peak to bottom, last at 1.0260, down -0.43% for the week so far. The pair chases gold and equities, that suffered massive sell offs following latest FOMC meeting minutes, in which was indicated stimulus policies may come to an end. Aussie went straight from a double weekly high at 1.0368 printed by late Asian session yesterday, to fresh weekly lows by late NY at 1.0237, without any significant retracement.

According to Valeria Bednarik, Chief Analyst at Fxstreet.com, AUD/USD is “Extremely oversold in the short term,” she says, noting “technical indicators point for an upward corrective movement, although price holds steady near the lows. Buying is not an option even against the trend: approaches to the 1.0270 area if correction actually takes place, should be taken as selling opportunities, as well as an acceleration below 1.0225, past week low,” the analyst suggests.

The analyst finds support levels at: 1.0225, 1.0190 and 1.0160, while resistance levels at: 1.0270, 1.0300 and 10330.

Forex Flash: FX market badly positioned structurally - Societe Generale

A slightly more hawkish Fed minutes, where some members considered to soon start tapping bond purchases, came as a surprise by market participants, leading to a vigorous rise in all things USD.
Read more Previous

Forex: EUR/USD pressed against fresh 1-month lows

EUR/USD is currently pressing at 1.3275 to fresh 1-month low just 6 pips below, printed following latest FOMC meeting minutes, indicating stimulus may end, making USD index jump the most in 3 months. The pair is down -0.63% for the week so far, retracing from fresh weekly highs around the 1.3430 level, ask line tested at least for three times since early Asian trade yesterday to mid London session. Euro started easing the bids after less demand than expected in German bunds auction, that resulted in higher interests at 1.66% vs 1.56%.
Read more Next
Start livechat