Slobodan Drvenica
Windsor Brokers
AUD/USD
AUDUSD came under increased pressure in past few sessions with fresh acceleration lower on Wednesday, pushing the price to one month low (0.6668).
Break through 100DMA (0.6693) and penetration of rising thick daily Ichimoku cloud (spanned between 0.6690 and 0.6586) is bearish signal which needs close below these level to be confirmed and open way for test of next target at 0.6645 (50% retracement of 0.6348/0.6942 / weekly Kijun-sen) and 0.6926 (200DMA).
Bear-cross of daily Tenkan/Kijun-sen and strong bearish momentum contribute to negative near-term outlook.
Several barriers (0.6693; 0.6715; 0.6723 – 100DMA / broken Fibo 38.2% / 55DMA respectively) should cap upticks and guard upper pivot at 0.6760 (daily Tenkan-sen).
Markets await release of Australia’s September labor report (due in early hours of Asian session on Thursday) for fresh signals.
Res: 0.6693; 0.6715; 0.6726; 0.6760.
Sup: 0.6645; 0.6626; 0.6586; 0.6575.
Interested in AUD/USD technicals? Check out the key levels
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
Recommended Content
Editors’ Picks
EUR/USD holds near 1.0900 ahead of key ECB meeting
EUR/USD recovers modestly from multi-month lows and fluctuates at around 1.0900 Wednesday. The cautious market mood ahead of Thursday's ECB policy announcements, however, makes it difficult for the pair to continue to stretch higher.
GBP/USD recovers above 1.3000 after earlier selloff
GBP/USD recovers from the multi-month low it set near 1.2980 and trades above 1.3000. The data from the UK showed that the annual CPI inflation declined to 1.7% in September from 2.2% in August, weighing heavily on the Pound Sterling in the early European session.
Gold closes in on new record high above $2,980
Gold price scales higher for the second straight day on Wednesday – also marking the fourth day of a positive move in the previous five – and climbs toward the all-time-high it set at $2,685 in late September.
Why is the ECB set to cut interest rates again and what does that mean
The ECB is widely expected to cut interest rates on Thursday for the third time this year. This is a significant achievement as it suggests that the ECB, which sets monetary policy in the Eurozone, is accelerating its path towards lower interest rates after an unprecedented increase.
British inflation dips to 1.7% in September
And speaking of inflation and Europe, inflation in Britain not only fell below 2% in September but came in significantly lower than expected (1.7%y-o-y vs 1.9% expected).
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.