AUD/USD bounces off two-week low, lacks follow-through amid risk-off/sustained USD buying – by hareshmenghani AUDUSD Recession Fed Bonds Currencies
session. The pair is currently placed near the top end of its daily trading range, though any meaningful upside seems elusive and the attempted recovery runs the risk of fizzling out rather quickly.
Growing worries about a global economic downturn continue exerting downward pressure on commodity prices, which, along with a softer risk tone, might act as a headwind for the risk-sensitive aussie. Apart from this, the prevalent bullish sentiment surrounding the US dollar, bolstered by hawkish Fed expectations, should further contribute to keeping a lid on the AUD/USD pair.
The fundamental backdrop suggests that the path of least resistance for the AUD/USD pair is to the downside. Even from a technical perspective, the overnight break below the 50-day SMA could be seen as a fresh trigger for bearish traders. Hence, any subsequent strength might still be seen as a selling opportunity amid absent relevant market-movingNevertheless, the AUD/USD pair remains on track to register heavy weekly losses.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
NZD/USD drops to mid-0.6200s, over one-week low amid stronger USD/risk-offThe NZD/USD pair prolongs its recent sharp retracement slide from over a two-month high set last week and remains under heavy selling pressure for the
Weiterlesen »
Australian Dollar Technical Analysis: AUD/JPY, AUD/USD Rates OutlookAUD/JPY rates continue to consolidate in a potential bull flag, which has been in place since the middle of June. On the other hand, AUD/USD rates lost their recent uptrend, suggesting a retest of the August low may not be far away.
Weiterlesen »
AUD/USD Forecast: Australian Dollar Sits Right at SupportThe AUD/USD currency pair pulled back a bit Tuesday to test the 0.70 level.
Weiterlesen »
AUD/USD now in limbo ahead of critical Aussie jobs dataAUD/USD is trading down 1.2% on the day despite a benign set of minutes of the Federal Open Market Committee (FOMC) policy decision that took place ov
Weiterlesen »
AUD/USD slides towards 0.6900 on surprise fall in Australia’s Employment ChangeAUD/USD bears the burden of another downbeat job number during Thursday’s Asian session, not to forget the fresh concerns surrounding Taiwan. That sai
Weiterlesen »
EUR/USD Forecast: Euro could test 1.0100 with key resistances staying intactAfter having dropped to its weakest level in nearly two weeks at 1.0122 on Tuesday, EUR/USD has managed to stage a rebound before losing its momentum
Weiterlesen »