Every day U.S. Session Watchlist: AUD/USD

This pair is transferring sideways today, and value is again to testing the vary help.

Will it maintain or break this time?

Earlier than transferring on, ICYMI, at present’s Asia-London session watchlist checked out GBP/USD for a possible pullback after its sharp break lower. Make sure to take a look at if it’s nonetheless a legitimate play!

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

Recent Market Headlines & Financial Information:

U.S. Senate Republicans block debt limit hike, gov’t shutdown looms

New Zealand reported highest day by day COVID-19 case depend in a month

Evergrande to offload $1.5 billion stake to Chinese state firm

Fumio Kishida wins runoff elections to be next Japanese PM

Fitch downgrades Evergrande and subsidiaries

German import costs up 1.4% vs. projected 0.8% uptick

Spanish flash CPI rose from 3.3% to 4.0% y/y vs. 3.5% forecast

Swiss Credit score Suisse financial expectations index up from -7.Eight to +25.7

Upcoming Potential Catalysts on the Economic Calendar:

U.S. pending house gross sales at 2:00 pm GMT
EIA crude oil inventories at 2:30 pm GMT
ECB head Lagarde, BOE Governor Bailey, Fed head Powell & BOJ Governor Kuroda to take part in “Coverage Panel” dialogue held by ECB at 3:45 pm GMT

When you’re not conversant in the foreign exchange market’s essential buying and selling classes, take a look at our Forex Market Hours device.

What to Watch: AUD/USD

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

Bounce or break?

AUD/USD continues to be hanging across the backside of its short-term vary, nonetheless deciding the place to go subsequent.

If help holds, the pair may bounce again to the high quality round .7310.

However, a break beneath help may set off a drop that’s the identical top because the rectangle pattern, which spans 85 pips.

Technical indicators are favoring a bounce, with the 100 SMA above the 200 SMA and Stochastic beginning to head north.

Then once more, value already fell beneath the dynamic inflection factors on the transferring averages, so these may maintain as resistance transferring ahead.

Take into account that risk-off flows have been in play not too long ago, as the main focus appears to be shifting again to Evergrande concerns.

So much may nonetheless occur within the subsequent few hours, particularly with prime central bankers like Lagarde, Bailey, Kuroda and Powell set to take part in a “Coverage Panel” dialogue hosted by the ECB.

Additionally, China is because of launch its official manufacturing and non-manufacturing PMIs within the subsequent session, so Aussie merchants is likely to be keen to cost in expectations.

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