Australian Dollar Analysis: AUD/USD, AUD/JPY, AUD/CAD, EUR/AUD Technical Setups
2021-05-23 08:00:00
Daniel Dubrovsky,
Strategist
Australian Dollar, AUD/USD, AUD/JPY, AUD/CAD, EUR/AUD – Weekly Technical Outlook
Australian Dollar remains in broad consolidation, signals mixed
AUD/CAD may aim lower, EUR/AUD facing triangle breakout
AUD/USD - Neutral
The Australian Dollar continues to consolidate against the US Dollar, but the near-term bias could remain tilted to the upside. In April, AUD/USD broke above a Descending Triangle chart pattern, offering a bullish technical bias. While prices remain higher, upside momentum has been fading. Immediate support seems to be the 100-day Simple Moving Average. That could keep the bias tilted higher, bringing the 0.7849 – 0.7891 resistance zone into focus. Otherwise, the floor of the triangle stands between 0.7532 – 0.7583.
The US Dollar is losing ground against a few ASEAN counterparts. USD/SGD, USD/IDR and USD/PHP seem to be maintaining a downside bias. USD/THB may rise, however.
The US Dollar is still struggling against most ASEAN currencies. USD/SGD remains downside-focused despite recent gains. USD/THB is eyeing a triangle. USD/IDR and USD/PHP may point lower.
Australian Dollar Outlook: AUD/USD Looks Past RBA, Focusing on Stocks and Sentiment
2021-05-04 05:00:00
Daniel Dubrovsky,
Strategist
Australian Dollar, AUD/USD, RBA, Fed, Technical Analysis – Market Alert
The Australian Dollar was little moved on RBA, focusing on market sentiment
RBA not considering extension of term funding facility, CPI to rise near-term
AUD/USD trading with slight bullish undertone, but recent price action neutral
The Australian Dollar was fairly tame after May’s RBA monetary policy announcement crossed the wires. As was widely anticipated, the cash rate target and 3-year government bond yield targets were left unchanged at 0.1%. What seemed to give some life to the Aussie was the central bank’s update that it is not considering a further extension of the term funding facility.