OctaFX | OctaFX Forex Broker
Open trading account
Back

AUD/USD: upside on 4hr looks constructive - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the Australian dollar ends the day with gains against its American rival, with the pair however, far from its daily high of 0.7218 achieved during the past Asian session after the RBA meeting outcome.

Key Quotes:

"The Australian Central Bank said that that economic conditions had “firmed a little” in the past few months, whilst maintaining its main benchmark unchanged at 2.0%. The pair fell down to 0.7150 mid American session, but quickly recovered ground after tepid US Factory Orders data, now capped by the 0.7200 figure."

"The technical picture is mildly positive, as the 1 hour chart shows that the price is above a bullish 20 SMA, whilst the RSI indicator holds around 60. The Momentum indicator however, in the same chart, heads lower below the 100 level, limiting the upside at the time being.

In the 4 hours chart, the upside seems more constructive, as the intraday decline was contained by a bullish 20 SMA, whilst the technical indicators hold above their mid-lines, yet with a limited upward tone at the time being."

GBP/USD bulls losing momentum at 1hr MA cluster

GBP/USD is currently trading at 1.5422 with a high of 1.5446 and a low of 1.5358.
Read more Previous

US stocks end second session with gains led by energy sector

Wall Street closed higher for a second day in a row, with the Dow Jones Industrial Average up by 89 points, and ending the day at 17,918.15. The S&P closed at 2,109.78, barely 1% away from its all-time high, whilst the Nasdaq advanced 0.35%.
Read more Next
Start livechat