AUD/USD Rises Towards 2010 high, 0.9330

Trend: Weekly : Sideways Daily: Bullish Hourly: Bullish Support & Resistance: From current levels, 0.9308, the pair finds initial resistance at 0.9330, followed by 0.9410, and 0.9440. Support to watch is the 0.9300 followed by the 0.9270 level, 0.9223 and 0.9192. Strategy: The Aussie is a few pips away from reaching its 2010 high, 0.9330, [...]

Greece Just Can’t Get a Break

Forex News and Events: Things continue to get worse for Greece, which has been weighting on the EUR. An FT article reported that more than €10bn of deposits have been withdrawn the four largest Greek banks, forcing them to ask the Greek government for extra liquidity (from remaining Bank Support Package). This is not a [...]

AUD/USD Limit Buy 0.9230

The Aussie extended gains above the 0.9250 resistance level to reach at 0.9290 high. In spite of renewed fears over Greek debt, the Aussie remains resilient on fundamental support. The RBA increased rates further on Tuesday and is expected to continue its hawkish stance. Bias is tilted to the upside with dips likely to be [...]

Markets Focused on NFP Debate

Forex News and Events: Markets are clearly digesting / debating yesterday’s surprise ADP report and correlation to Friday’s NFP. Some very well respected banks are now rapidly backpedalling on what already seemed boisterous forecasts. The median forecast for NFP on Bloomberg has dropped to 184k from 190k, and we suspect if there was more time [...]

*Update AUD/USD Drops on Negative Data

*Update: see comment section below The Aussie fell sharply from a 0.9216 high as retail sales and building approvals declined. Retail sales reported a decline of 1.4%, while building approvals dropped by 3.3%. This compares to analysts expectations of +0.3% and +2.1%, respectively. Bias is now neutral in the near term. Although recent data would [...]

Solid Aussie foundation crumbles

Last week we heard carbon-copy statements from the Reserve Bank of Australia’s two leading officials who tried to steer the conversation about monetary policy towards a “normal” interest rate setting. As investors listened and as they observed fresh domestic and regional data indicative of ongoing above normal growth, they once again clung onto the coat [...]

AUD/USD Rises Above 0.9200

The Aussie rose sharply  as rate hike expectations increased following an interview by RBA’s Governor Stevens. RBA Governor Glenn Stevens signaled that interest rates may need to be increased further to contain inflation and said house prices are “getting quite high”. Comments led to short covering with the pair rising above the 0.9200 level. Buying [...]

NZDUSD bullish on home approvals

Market Brief The USDJPY gained on speculation Japanese exporters are converting overseas revenue before the fiscal year ends tomorrow after falling yesterday as economic pace picked up on Greek issue of 7 year bonds worth EUR 5 Billion stoking demand for higher yield assets. The pair also moved up after unemployment levels in Japan remained [...]

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