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On August 31, Barclays stated that, given Federal Reserve Chairman Warshs recent comments suggesting a more hawkish policy stance, the bank expects the Fed to raise interest rates by 25 basis points in both September and December. Previously, the bank had anticipated the Fed would keep interest rates unchanged for the remainder of the year.OpenClaw has announced that OpenClaw 2.0 is now live.On August 31, the public relations department of Irans Islamic Revolutionary Guard Corps said on social media that a U.S. MQ-9 Reaper drone was shot down by an Iranian missile over the Strait of Hormuz and "crashed into the blue waters of the Persian Gulf." Depending on the sensors and weapons it carries, an MQ-9 Reaper drone costs between $30 million and $50 million.On August 31, the yen fell below the 160 level against the dollar, highlighting the vulnerability of further yen weakness and increasing the risk that Japanese authorities might intervene again to slow the yens decline. While the specific trigger level remains uncertain, strategists warned on Monday that there are many factors that could trigger Japanese authorities to intervene again to prevent a significant weakening of the yen, most likely around 161, followed by the 162-163 range. However, strategists still believe that even if Japanese authorities take action, its effect is likely only to buy time. The yen has already given back more than half of its gains since the record-breaking intervention that began at the end of July. Rinto Maruyama, senior interest rate and foreign exchange strategist at Nikko Securities, said, "In terms of key levels, 161 is the first level to watch, followed by the 162.9-163.3 area, where the authorities intervened last time." However, he noted that the Japanese government "very much emphasized maintaining a degree of surprise" when it last acted, meaning that the authorities could act at any time.Hong Kong-listed mainland property stocks fluctuated and declined, with China Jinmao (00817.HK) falling more than 15%, Greentown China (03900.HK) falling more than 12%, Yuexiu Property (00123.HK) falling more than 11%, and other stocks such as China Resources Land (01109.HK), Longfor Group (00960.HK), and Sunac China (01918.HK) following suit.

AUD/NZD Price Analysis: Bulls Surpass 1.0790 Resistance Confluence Due To Positive Australian Employment Report

Alina Haynes

Apr 13, 2023 14:19

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AUD/NZD supporters are approaching their highest levels since early March as a result of a four-day uptrend following Thursday morning's release of robust Australian employment data. At the time of publication, the currency pair is accepting bids to reestablish the multi-day high near 1.0810.

 

The Australia Bureau of Statistics (ABS) reported for the month of March that Employment Change increased by 53K compared to 20K expected and 64.6K previously, while the Unemployment Rate remained unchanged at 3.6% compared to expectations of 3.6%. In addition, the Participation Rate rose to 66.7%, exceeding the 66.7% predicted by the market.

 

The AUD/NZD pair surpassed the previous critical resistance confluence surrounding 1.0790, which was comprised of the 100-day moving average (DMA) and a one-month-old downward trend line.

 

The bullish MACD signals and stronger, non-overbought RSI (14) line contribute to the strength of the upside bias.

 

The AUD/NZD bulls are currently positioned to test the 50-day moving average of 1.0824. However, the preceding monthly apex of about 1.0895 and the round number 1.0900 may limit future gains.

 

Alternately, retracement remains elusive until the AUD/NZD pair remains above the support-turned-resistance level of 1.0790.

 

Then, a breach of the upward-sloping trend line from March 5 and the 61.8% Fibonacci retracement level of the pair's run-up from December 2022 to February 2023, located near 1.0705, could give the bears room to maneuver in their subsequent analysis.