AUD/USD Price Analysis: Retreats from multi-month top, downside potential seem limited AUDUSD RiskAversion Fed Technical Analysis Currencies
the early North American session. The pair drops to a fresh daily low, around the 0.6935 region in the last hour, eroding a part of the previous day's post-US CPI gains and snapping a two-day winning streak.
A modest bounce in the US Treasury bond yields helps the US Dollar to stall its recent decline to a seven-month low. Apart from this, the risk-off impulse - as depicted by a sharp fall in the equity markets - further benefits the greenback's relative safe-haven status and weighs on the risk-sensitive Aussie. That said, rising bets for smallerrate hikes might keep a lid on any meaningful gains for the buck and limit deeper losses for the major, at least for the time being.
From a technical perspective, the AUD/USD pair has been scaling higher along an ascending channel over the past three months or so, which points to a well-established uptrend. Adding to this, the recent breakout through the very important 200-day SMA and the overnight strength beyond the 50% Fibonacci retracement level of the April-October 2022 downfall favours bullish traders.
On the flip side, bulls might now wait for a sustained strength beyond the 0.7000 mark before placing fresh bets. The AUD/USD pair might then aim to surpass an intermediate hurdle near the 0.7030-0.7035 region and the 0.7070-0.7075 zone before eventually climbing to the 0.7100 round figure.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
AUD/USD Price Analysis: Distribution could be playing out into US CPI critical eventDespite hot domestic economic data that reinforced the case for further increases in interest rates from the Reserve Bank of Australia, AUD/USD has fa
Weiterlesen »
AUD/USD Price Analysis: Bulls keep 0.6960 on radar despite mixed China inflationAUD/USD seesaws around the intraday high near 0.6925 even as China prints mixed inflation data for December during early Thursday. In doing so, the Au
Weiterlesen »
AUD/USD Price Analysis: Distribution and spring set, or bullish continuation?As per the prior analysis, AUD/USD Price Analysis: Distribution could be playing out into US CPI critical event, a thesis for the downside was illustr
Weiterlesen »
AUD/USD Price Analysis: Sets to test 0.7000 for the first time in five monthsThe AUD/USD pair is inches far from recapturing the critical resistance of 0.6980 in the Asian session and is likely to extend further to near 0.7000.
Weiterlesen »
AUD/USD Signal: Rebound to 0.700 Can\u2019t be Ruled OutThe AUD/USD pulled back in the overnight session as focus shifted to the upcoming American consumer inflation data.
Weiterlesen »
AUD/USD: The mid-0.70s are within reach – SocGenAUD/USD remains well within the striking distance of its highest level since late August. Economists at Société Générale believe that the pair could r
Weiterlesen »