EUR/USD 1.16920
0.017%
Gold 4523.60
-0.013%
Oil 102.194
-0.154%
USD/JPY 157.178
0.017%
GBP/USD 1.35286
-0.018%
GBP/JPY 212.600
0.013%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
May 5th - According to three sources familiar with the matter, US intelligence assessments indicate that the timeline for Iran to develop nuclear weapons has remained unchanged since last summer. At that time, analysts estimated that the joint US-Israeli strikes had delayed this timeline by up to a year. This unchanged timeline suggests that effectively stopping Irans nuclear program may require the destruction or removal of Irans remaining stockpile of highly enriched uranium (HEU). The sources stated that US intelligence agencies concluded before the 12-day war in June of last year that Iran was likely to produce enough weapons-grade uranium to build a nuclear weapon within three to six months. Following the June airstrikes, US intelligence assessments pushed this timeline back to approximately nine months to a year.According to the Wall Street Journal, "Big Short" Michael Burry has sold off his entire stake in GameStop (GME.N), after GameStop announced its intention to acquire eBay (EBAY.O).Bank of Canada Governor Macklem: With Federal Reserve Chairman nominee Warsh now serving as Chairman of the Federal Reserve, I believe the Feds culture and behavior will continue as they have been.US President Trump: Hundreds of millions of barrels of oil are flowing out of Venezuela.On May 5th, New York Federal Reserve President Williams stated that the Feds current accommodative stance reflects the likely long-term direction of monetary policy, while inflation dynamics have not yet reached the point where a rate hike needs to be discussed. Speaking to reporters after a speech in New York City, Williams said, "I dont see any indication from todays data that a rate hike is necessary in the near term." However, he added that given the current level of uncertainty, he believes "we cannot yet provide clear guidance on the direction of interest rates at the next few meetings."

AUD/USD Price Analysis: Price breaks six-week-old resistance below 0.6700 as bulls lose momentum

Daniel Rogers

Mar 15, 2023 11:50

AUD/USD accepts bids up to 0.6680 on Thursday morning as the currency pair falls toward retesting its intraday low of 0.6671. In doing so, the Aussie pair posts its first daily loss in three days as bulls flirt with a resistance line with a downward trajectory from early February.

 

In addition to the six-week-old descending resistance line, AUD/USD buyers are challenged by a lethargic RSI (14) and ambiguous MACD signals unless the price remains below the 0.6700 trend line resistance.

 

Even if the Aussie pair transcends the 0.6700 round number, a convergence of the 100-DMA and the 200-DMA around 0.6770-75 appears challenging for the bulls to surmount.

 

If the AUD/USD exchange rate remains above 0.6775, the December 2022 high near 0.6895 and the 0.6900 round number may serve as the bulls' final line of defense.

 

In contrast, a pullback has yet to materialize beyond the 50% Fibonacci retracement level of the risk-barometer pair's upside from October 2022 to February 2023, which was near 0.6655 at the time of publication.

 

Afterwards, the most recent swing low and the 61.8% Fibonacci retracement level, also known as the golden Fibonacci ratio, around 0.6565 and 0.6550, respectively, could challenge the AUD/USD bears prior to granting them control.

 

As China data approaches, the AUD/USD pair is likely to experience a retracement, but downside potential appears limited.


Suggestion