Buck pairs are moving hard this morning ahead of Australian employment numbers and after the US reports bad retail sales. A recent shift in sentiment in the forex market might have switched over to risk-off. European and Aussie currencies move hard ahead of US fed statements.
EA up .4% on the day as Aussie is now turning bearish against the euro on the 4H. Bottoming support is at 1.56700s could be a good level to bounce from if price were to return. But, a higher high that formed could be a good sign for bulls on this pair, especially if USD starts dropping again (AUD will probably drop too).
AU falls to support under 0.76743 and is showing some rejection from the lows which could be bullish potential. A falling trend line on the 4H timeframe could be a significant resistance level. Looks like a possible retest on the trendline will happen en lieu of FOMC.
ACHF is the biggest mover of the day down 0.59% as the Swiss Franc is gaining demand on cautious investors. Hitting the bottom trendline seems likely which also could result in a potential break under support.
9/17/2021 Stocks are down -0.58% this morning after coming down to test a significant level of support once again. While stocks fall, the dollar rises in the anticipation of sooner-than-expected tapering by the Fed along with a hike in interest rates starting in 2022. Our outlook Other than September being one of the worst months […]
9/16/2021 The Euro-Dollar pair is down over 0.5% today after several days in the red. Today's speech by EU president Lagarde mentioned how the economic recovery had come quicker than expected six months ago. This was praised by the prompt vaccine distribution so citizens could get back to work. Across the pond, the US just […]
9/14/2021 This morning's report on CPI m/m and core CPI m/m came in at a lower percentage than expected which resulted in a falling dollar pre-New York session. The USD is now volatile under the uncertainty of potential tapering and rising rates while the equities market seems to be rising because of this. Our outlook […]
9/13/2021 Big money has been moving out of Australia's currency for nearly a month now which has been the biggest drop in long contracts in this amount of time year-to-date. Australia's dollar index (AXY) is up 0.06% at 73.61 on the day after rebounding from the lows around 71.19. Our outlook Australia's economy has surprised […]