Each day Foreign exchange Information and Watchlist: AUD/USD

Who’s up for a break-and-retest play?

AUD/USD simply broke beneath its rising pattern line assist and will collect extra promoting power for a downtrend.

Earlier than transferring on, ICYMI, I’ve listed the potential economic catalysts that you need to watch out for this week. Test them out earlier than you place your first trades immediately!

And now for the headlines that rocked the markets within the final trading sessions:

Contemporary Market Headlines & Financial Knowledge:

Australia’s MI inflation gauge dipped from 0.3% to 0.2% in Dec 2021

Australian constructing approvals rose 3.6% vs. 3.2% forecast, earlier 13.6% droop

Virgin Australia cancels practically 25% of flights in Jan and Feb

Taiwan tightens coronavirus restrictions, alerts heightened

Crude oil advances on provide considerations from Libya, Kazakhstan

Chinese language property developer Shimao places all tasks on sale

Italy’s jobless price improved from 9.4% to 9.2% in Dec

U.S. 10-year Treasury yields rise to pre-pandemic ranges above 1.80%

U.S. closing wholesale inventories at 3:00 pm GMT

Use our new Currency Heat Map to rapidly see a visible overview of the foreign exchange market’s value motion! 🔥 🗺️

What to Watch: AUD/USD

AUD/USD 1-hour Forex Chart
AUD/USD 1-hour Foreign exchange Chart

It’s a gradual begin to the week when it comes to top-tier financial experiences, so merchants would possibly take cues from market sentiment.

By the seems of it, risk-off vibes might keep in play because the Omicron variant is prompting one other wave of restrictions in some nations.

In addition to, the higher-yielding Aussie broke beneath its uptrend line in opposition to the Dollar, suggesting {that a} reversal from the climb is underway.

Earlier than that occurs, although, the foreign exchange pair would possibly nonetheless retreat to the damaged assist zone that occurs to line up with the 61.8% Fib and 200 SMA dynamic resistance.

Oh, and did I point out {that a} bearish moving average crossover not too long ago happened?

If that ain’t sufficient to attract AUD/USD sellers out, then Stochastic turning decrease from the overbought zone would possibly!

The opposite Fib ranges is likely to be sufficient to maintain features in test additionally, probably sending the pair again to the swing low round .7130 or decrease.

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