Each day Foreign exchange Information and Watchlist: AUD/USD

A few main economies are out on holidays immediately however that doesn’t imply you possibly can’t go forward with pricing in your positions!

In the present day I’m taking a look at AUD/USD and a potential return to a longer-term 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:

China, Japan, Australia, and New Zealand markets out on banking vacation

TSLA delivered document 308,600 automobiles in This fall 2021, greater than 263,026 anticipated

Evergrande suspends shares in Hong Kong amidst rumors of being ordered to demolish 39 buildings

UK govt asks public sector to check contingency plans for a 25% workers absence situation

OPEC expects Omicron variant influence to be “gentle and short-lived”

Gold steadies close to 6-week excessive as firmer U.S. yields offset Omicron woes

Italy’s manufacturing PMI at 8:45 am GMT
France’s remaining manufacturing PMI at 8:50 am GMT
Germany’s remaining manufacturing PMI at 8:55 am GMT
U.Ok., U.S., and Canada’s markets out on banking vacation
U.S. remaining manufacturing PMI at 2:45 pm GMT
U.Ok. BRC store worth index at 12:01 am GMT (Jan 4)
China’s Caixin manufacturing PMI at 1:45 am GMT (Jan 4)

In case you’re not conversant in the foreign exchange market’s foremost buying and selling classes, try our Forex Market Hours instrument.

What to Watch: AUD/USD

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

AUD/USD has been making pips rain for the reason that begin of December, gaining greater than 250 pips from its .7000 lows.

Will the bears begin the yr by extending the Oct-Nov downtrend?

AUD/USD is forming a possible rising wedge sample on the 1-hour time-frame and, primarily based on the consolidation across the .7250 mark, it doesn’t seem like the bulls have momentum on their facet.

The U.Ok., U.S., and Canada’s markets are out immediately however Asian and European merchants are lowkey shopping for U.S. {dollars} as they worth in new Omicron variant-related uncertainties in addition to the Fed’s tapering this yr.

If AUD/USD trades under the 100 and 200 SMAs then a breakout under the wedge sample and an extension of the downtrend turns into extra doubtless. Areas of curiosity like .7125 and .7050 might turn into intraweek targets.

If merchants deal with taking “dangerous” property within the subsequent buying and selling classes, nevertheless, then AUD/USD might surpass December’s highs and hit greater inflection factors like .7350 or .7425.

Source link

Leave a Reply

Your email address will not be published.