OctaFX | OctaFX Forex Broker
Open trading account

Forex: AUD/USD off fresh lows at 1.0250

Aussie is currently back above previous weekly lows at 1.0260 printed yesterday, last at 1.0272, off fresh weekly lows at 1.0247, following RBA assistant governor Guy Debelle's comments saying
RBA could cut cash rate to offset high AUD, which added to the selling off in risky assets after divided election results in Italy. The pair is down -0.57% for the week so far, with commodities overall lower as well.

According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “with the hourly chart supporting the bearish bias, as price broke below 20 SMA while indicators head south below their midlines,” the analyst says, “the 4 hours chart technical outlook is also bearish, yet 1.0220 base of these last days’ range stands in the way: only a clear break of this last should favor a stronger bearish continuation in the pair,” she concludes.

Support levels are found by Valeria at: 1.0220, 1.0180 and 1.0150, while resistance levels at: 1.0330, 1.0370 and 1.0410.

Forex: EUR/JPY pulling back the 121.00 handle

EUR/JPY is pulling back last at 121.04 the channel base broken down around the 122 handle following Italian election results, off fresh 1-month lows at 118.73. The bounce comes on the back of mostly Yen weakness, as Euro is still stable around near session and 1-month lows 1.3072 last, knowing now that quite possibly there's need of another voting in Italy before year ends, given highly mixed results, which could difficult forming a government.
Read more Previous

Forex Flash: USD/JPY, don’t believe the BoJ will deliver - Westpac

With USD/JPY enjoying a nice rebound last at 92.72 from fresh Feb lows at 90.84 following mixed election results in Italy, Westap analysts say: “our view on USD/JPY has not changed – see e.g. 'Westpac Strategy Trade Recommendation: Sell USD/JPY via options' on 13 Feb.”
Read more Next
Start livechat