AUDUSD

Forex Trading News: AUDUSD Drops to 1-month Lows behind Battered Equities

Mr. Danish FX — Thu, 20 Nov 2008 00:52:56 -0500

Despite attempts by the Aussie Central Bank buying a record amount of currency to revive the AUD, the AUDUSD dropped to 1-month lows at .6329. Traders quickly exited this position towards the lower-yielding JPY and liquid USD as the DJIA fell over 5% and the Nikkei down currently about 6%. Adding to this AUD turmoil, traders and investors are highly expecting a rate cut by the RBA next month, which is expected to chip at the AUD further.

Forex Trading: AUD/USD Possible Reverse Head and Shoulders on 4 Hour Chart

Basil Fayad — Tue, 18 Nov 2008 21:31:08 -0500

AUD/USD looks as if it may be making a possible reversal on the 4-hour chart with a reverse head/shouders formations. Each shoulder being made as illustrated around .6350 with the bottom (head) at the low around .6000. Should the neckline break around .6810 (after also having breached resistance through 100 and 200 hr MA's), look for a possible large move to around .7600. As we near this level, I will provide updates as needed for our potential break.

Forex Trading: AUDUSD is testing the support area

Greg Michalowski — Tue, 11 Nov 2008 11:02:53 -0500

The AUDUSD is testing the low range of the near term trading range. The low level comes in at the 0.6544 level. A move below should target lower levels. The commodities are moving lower. The CRB index is down 7.21 today which is hurting the AUD

Forex Trading: AUDUSD gets smashed as global growth slows

Greg Michalowski — Mon, 06 Oct 2008 12:32:00 -0400

There was a flight out of the AUD agains today as investors exited the high yielding carry trade currencies as global growth slows. The Reserve Bank of Australia is to meet later today and is expected to announce a 50 basis point decline in the Cash Target rate to 6.5% from 7.0%. The announcement is expected to be made at 11:30 PM EDT. It will be interesting to see if the cut is greater than 50 basis points given the relatively high level and the global slowdown/credit crisis which is gripping the world.

Forex Trading: AUDUSD moves lower as metals move lower

Greg Michalowski — Thu, 02 Oct 2008 12:07:25 -0400

The AUDUSD is moving lower today as metals move lower. Australia is a large exporter of metals like copper. Copper is down $11 cents today to 18 month low for the Dec Copper futures contract (see chart above). Inventories of copper has reached an 18 month high in London as the global slowdown increases the stockpiles.

Forex Trading News: AUDUSD Bounces Off Support...Again

Mr. Danish FX — Thu, 02 Oct 2008 05:57:26 -0400

The USD was bid across the board for a majority of the overnight behind the Senate's passage of the Bailout Plan yesterday. The USD hit one year highs vs. the EUR and made some positive moves vs. the AUD as well. Looking at the below AUDUSD chart, the pair fell down to 9/17 lows (0.0% on chart), which acted as a support, and bounced back again today. The pair did break through that support (.7800) briefly, but was unable to build momentum thereafter.

Forex Trading: AUD/USD Eyeing Levels Not Seen Since August 2007 Ahead of Retail Sales & Home Loans Data Due Out This Evening

Basil Fayad — Mon, 08 Sep 2008 18:28:34 -0400

AUD/USD is eyeing the .8027/30 Level again on the daily chart ahead of Retail Sales and Home Loans data due out later this evening. It has already tested this level on September 5th and a break of this level could yield .7350 which is 50% Fibonacci Retracement on the Weekly Chart of the move from November 2001. Keep an eye out for these key levels as MAJOR SUPPORT. Should this level break it will become major resistance. Tongiht's data could be very important for AUD/USD and those who trade the pair.

Forex Trading News: AUDUSD Still Under Pressure

Mr. Danish FX — Fri, 05 Sep 2008 02:36:32 -0400

With the USD firming up pretty much across the board (except vs. the JPY), the AUD remained under pressure. The pair did find strong support however at the 61.8% Fibonacci level or .8100.

Forex Trading News: AUDUSD Hits 7-Month Low

Mr. Danish FX — Tue, 26 Aug 2008 01:26:09 -0400

The USD was able to gain momentum today as traders were apparently selling currencies of further troubled economies. The EURUSD creeped towards 6-month lows as the AUDUSD hit a 7-month low. The AUDUSD has found some nice support here around the 0.0% Fibonacci level below, which was a low on 8/13, as the pair has been unable to really break and run through.

Forex Trading:AUDUSD Approaches 200 hour MA at 0.8742

Greg Michalowski — Wed, 20 Aug 2008 09:45:51 -0400

The 200 hour MA comes in at 0.8742. Should find resistance at this level.