EUR/USD 1.16720
-0.127%
Gold 4242.25
-1.935%
Oil 57.018
0.184%
USD/JPY 150.420
-0.006%
GBP/USD 1.34155
-0.142%
GBP/JPY 201.798
-0.143%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
US Geological Survey: A 5.0 magnitude earthquake occurred 79 kilometers southeast of Akutan, Alaska.On October 17, ECB board member Kazaks stated that the ECB will ensure that the inflation forecast for next year, which is below the 2% target, does not deteriorate further. "Our focus is on achieving the 2% target over the medium term, with some fluctuations along the way," Kazaks said. "But if there is a risk of inflation remaining persistently, significantly, and for a prolonged period below 2%, then of course we need to act." Kazaks said that the decision to cut interest rates will not be based on a single data point, but rather on a range of indicators to determine whether there is a persistent and significant risk of inflation underestimation, thus necessitating "precautionary" adjustments to policy to avoid straying too far from the 2% target. Kazaks noted that risks still "exist in both directions," but that policymakers are currently "more focused on downside risks," including the euro exchange rate and deflationary pressures. Despite this, Kazaks emphasized that he remains open-minded about the future direction of interest rates: "Meeting-by-meeting decisions are the right approach, and I dont think there is a need to form any directional bias at this time."Germanys DAX30 index closed down 447.61 points, or 1.84%, at 23,825.32 points on October 17 (Friday); Britains FTSE 100 index closed down 85.19 points, or 0.90%, at 9,350.90 points on October 17 (Friday); Frances CAC40 index closed down 14.39 points, or 0.18%, at 8,174.20 points on October 17 (Friday); The STOXX 50 index closed at 5,607.25 points on Friday, October 17, down 44.76 points, or 0.79%; the Spanish IBEX 35 index closed at 15,597.50 points on Friday, October 17, down 27.80 points, or 0.18%; and the Italian FTSE MIB index closed at 41,735.00 points on Friday, October 17, down 639.18 points, or 1.51%.ECB board member Kazaks: We are more concerned about the downward rather than upward risks of inflation. There is no need to have an upward or downward bias on interest rates. Inflation will fluctuate around the 2% target.Preliminary plans show that Angola will load 34 cargoes of crude oil in December, down from the 36 originally planned for November.

AUD/USD RBA Continuation of the upswing is predicated upon breaching the 0.7045-50 resistance area

Daniel Rogers

Aug 02, 2022 15:08

 截屏2022-08-02 上午9.52.31.png

 

The MACD and RSI indicators favor purchasers, but the RBA controls the market. AUD/USD trades between 0.7025 and 0.7030 during the midday Asian session on Tuesday. Traders anticipate the Reserve Bank of Australia's (RBA) Interest Rate Decision as the Aussie pair flirts with a significant northward resistance level.

 

In addition to the confluence of the 100-day exponential moving average (EMA) and the downward sloping trend line from April 20, AUD/USD bulls face the risk that the RBA may refrain from making too aggressive statements due to widespread recession concerns.

 

Notably, the early MACD signals and the RSI (14), which are not overbought, encourage AUD/USD buyers. Continuous trading above April's downward-sloping resistance line, which is currently 0.6910 support, is on the same line.

 

Should the downward swings push the quote below 0.6910, the mid-June and May lows of 0.6850 and 0.6830, respectively, will test the pair's further slide before reversing to the yearly low of 0.6680.

 

In contrast, a successful break over the 0.7050 resistance level requires confirmation from the June 16 swing high around 0.7070 prior to driving AUD/USD prices towards the 50 percent and 61.8 percent Fibonacci retracement levels of the April-July drop, near 0.7175 and 0.7300, respectively.


Suggestion