OctaFX | OctaFX Forex Broker
Open trading account

Forex: AUD/USD stalling below 1.04 ahead of China PMI

FXstreet.com (Barcelona) - AUD/USD is last at 1.0370, off fresh weekly and 9-day highs at 1.0384, ahead of key risk event for this Wednesday in Asia-Pacific in the form of official China PMI figures at 0.1:00 GMT. “China is closed today and Japan is in holiday mode ahead of a 4-day weekend,” says FXWW founder Sean Lee.

The analyst adds: “AUD/USD broke above technical resistance at 1.0360 but there are further levels at 1.0390/00 (prior highs and a 50% Fibo) and solid sell orders are reported at the same level. Support levels begin at 1.0330,” he concludes. The pair is up +0.85% for the week, with domestic ASX index near fresh 5-year highs above the 5150 points.

Immediate resistance to the upside for AUD/USD shows at recetn mentioned 9-day highs 1.0385, followed by April 16 highs/200 day SMA at 1.0397, and March 15 highs at 1.0416. To the downside, closest support lies at past Thursday's/Friday's highs 1.0340/35, followed by yesterday's lows at 1.0328, and Monday's weekly lows at 1.0255.

Forex: EUR/USD trades above 1.3150 and closes May with strong gains

The euro traded positive against the US dollar on Tuesday as markets are expecting that the Fed will maintain the status quo regards to its QE after the recent economic data. On the bigger chart, the EUR/USD is closing April with strong gains from the 1.2743 monthly bottom as it has recovered all the March losses. April has been the seventh month of gains of the last ten.
Read more Previous

Commodities Brief: S&P 500 closes at all time highs, commodities mixed on the day

It was another green day for US Equities, with the S&P 500 closing the day up 0.25% at 1597.57 (a new all time high). The US Dollar was weaker across the board, with the DXY closing down 0.54% at 81.77. The weaker greenback didn’t seem to help the energy complex as oil finished the day down 1.68% at 93.04. Gold closed flat on the day at 1476 (although it did trade as low as 1460), while silver closed down 0.97% at 24.30. Market participants are eagerly awaiting the Federal Reserve Monetary Policy Statement in the next US session at 18:00GMT
Read more Next
Start livechat