OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: AUD/USD finds rock solid support at 1.0290 bid line

FXstreet.com (Barcelona) - AUD/USD is last at 1.0294, around same levels from Monday's previous 1-month lows. The pair has already found support around this level for 7 times already since Monday, last 3 times since NY session. AUD/USD is down -2% for the week so far, retracing from recent session highs at 1.3011, while local share markets trade in the green overall.

According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “the favored bias continues to be to the downside as the 4 hours chart shows 20 SMA still heading strongly south, while momentum retraces from the 100 level and heads south into negative territory,” the analyst notes, adding: “The 1.0280 area comes as immediate support but a stronger one is located a few pips below, around 1.0260: the pair presents several daily highs and lows around the area that the market can’t ignore. A break below this last however, will set the tone in the pair, with 1.0100 area then possible for next week,” she suggests.

Valeria spots support levels at: 1.0280, 1.0260 and 1.0220, while resistance levels at: 1.0335, 1.0380 and 1.0410.

Forex: USD/JPY advances again capped at 98.50, G20 meetings still in focus

The USD/JPY closed the session 4 pips lower at 98.21. The pair traded in a narrow range and advances continued to be capped by the 9dma (high price for 3rd straight day). Many market participants have been focused on the G20, looking to see if officials would critique Japan for its aggressive QE measured announced last month that surpassed previous policies in place.
Read more Previous

Forex Flash: USD/JPY, above 100.00 the 105.00 comes into sight - BTMU

Bank of Tokyo Mitsubishi UFJ analysts offered their technical analysis on USD/JPY, pointing out the fact that has already "more than retraced halfway to the 99.73 midpoint between the June 2007 high of 124.14 and the October 2011 low of 75.32, with the 61.8% retracement point at 105.49, and 112.61 would mark a 76.4% retracement."
Read more Next
Start livechat