Latest From The Blog
- RBA Stevens giving a speech this morning and no sign of any talking-down of the AUD;
- Market currently testing overnight highs at .9112;
- 200-dma at .9165 is the next notable resistance level;
- A weekly close above previous resistance at .9080 might well encourage some aggressive short-covering.
The GBP looks to have put in a top for now against the AUD and the EUR and if it's starting to struggle on the crosses then Cable will also struggle to rally too much.
- I think EUR/GBP is starting to look very bullish with a strong base in place at
I wonder what happened to Monday's risk aversion when AUD/JPY was trading near 90.00? Now we are 4.5% higher! No point in chasing moves like this but congrats to anyone who was clever enough to stick a silly bid in last Monday morning. I understand the rally in the AUD/USD to
- AUD/USD has breached previously important technical resistance at .9080 and a daily close above there would be a bullish event;
- EUR/USD is closing in on spike highs near 1.3880 and a weekly close above there would be a bullish event;
- AUD/JPY is another pair worth watching as it attempts to break out
- Most reports suggest that the market is sitting short of EUR/USD;
- Majority of analysts say ECB will not cut rates but we may see sterilisation of SMP;
- EUR crosses are mixed with the single currency recovering against the JPY and CHF but staying heavy against the AUD and GBP.
AUD/USD takes out stops above .9010 after better than expected economic data.
- They do not expect the ECB to ease although they may end the sterilisation of the securities market programme (SMP);
- Cuts to the deposit rate and main refinancing operations (MRO) are still possible;
- End of SMP sterilisation would be worth around 50 pips in EUR/USD;
- Depot cut to 0.15% would be worth up