Australian Dollar Analysis, More Losses Next? AUD/USD, AUD/JPY, AUD/CAD, GBP/AUD
2021-07-11 08:00:00
Daniel Dubrovsky,
Strategist
Australian Dollar, AUD/USD, AUD/JPY, AUD/CAD, GBP/AUD – Weekly Technical Outlook
Australian Dollar extended losses against its major peers this past week
AUD/CAD may consolidate with downside bias, GBP/AUD breakout eyed
AUD/USD - Bearish
The Australian Dollar extended its decline this past week against the US Dollar, with AUD/USD further confirming the break under the 200-day Simple Moving Average (SMA). A bearish crossover between the near-term 20-day and 50-day SMAs are also offering a downside bias. Still, immediate support remains the 0.7445 – 0.7479 range. Positive RSI divergence does show that downside momentum is fading. That can at times precede a turn higher. If not, the pair may aim towards lows from September.
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.
Australian Dollar Analysis: AUD/USD Gyrates Following Mixed Jobs Data
2021-05-20 02:00:00
Brendan Fagan,
AUD/USD, AU Employment Talking Points
Australian employment change comes in at -30,600 against a previous gain of 77,000
The Australian unemployment rate falls to 5.5%, however labor force participation also dropped
AUD/USD pushed lower Wednesday following a wave of risk-off sentiment across all asset classes
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Australian employment data largely disappointed on Thursday as total employment decreased by 30,600 jobs, against an expected gain of 15,000 jobs for April. Despite the miss, the country’s unemployment rate dropped to 5.5%, down 0.2% from March. Perhaps a green shoot in the reading was the gain in full-time employment, which grew in April by 33,800. Of note, the end of the domestic “JobKeeper” subsidy program will present a headwind to further significant employment gains. Experts labeled the program as a key factor in the sharp decline in Australi