The RBA simply introduced a bigger than anticipated hike right now!
Can this be sufficient to maintain the uptrend on AUD/USD?
Earlier than transferring on, ICYMI, yesterday’s watchlist checked out the uptrend on AUD/USD forward of the RBA choice. You should definitely take a look at if it’s nonetheless a sound play!
And now for the headlines that rocked the markets within the final buying and selling periods:
Contemporary Market Headlines & Financial Information:
RBA hiked rates of interest by 0.50% to 0.85%
RBA assertion highlighted robust inflation and resilience of Australian economic system
RBA officers expressed issues on family spending and home costs
BOJ head Kuroda: Now shouldn’t be the time for an exit technique
Kuroda: Large JPY decline is unfavorable for the economic system
New Zealand ANZ commodity costs sink by 2.8%, following earlier 1.9% stoop
German manufacturing facility orders tumbled by 2.7% vs. estimated 0.4% uptick
SNB international forex reserves unchanged at 925 billion CHF
Canadian Ivey PMI at 2:00 pm GMT
Treasury Secretary Yellen’s speech at 2:00 pm GMT
New Zealand GDT public sale developing
U.S. shopper credit score information at 7:00 pm GMT
Use our new Forex Warmth Map to rapidly see a visible overview of the foreign exchange market’s worth motion! 🔥 🗺️
What to Watch: AUD/USD
I’ve nonetheless acquired my eye on AUD/USD for right now!
This time, I’m staying looking out for a possible channel breakdown, even after the RBA introduced a bigger than anticipated fee hike.
You see, the pair acquired a fast enhance in the course of the occasion, however the rally was short-lived. May or not it’s that market watchers are now not anticipating extra RBA hikes quickly?
In any case, I’m nonetheless ready on extra affirmation for an uptrend continuation or reversal. A transfer above the realm of curiosity across the .7200 deal with may affirm that the rally may resume and take AUD/USD again to the channel high quickly.
Technical indicators appear to be pointing to extra features, because the 100 SMA is above the 200 SMA to mirror bullish momentum. As well as, the 200 SMA held as dynamic help close to the channel backside.
On the identical time, Stochastic is pulling greater from the oversold area to point that consumers are returning whereas sellers take a break.
There’s not a lot in the best way of top-tier information from the U.S. right now, although, so AUD/USD worth motion may additionally hinge on threat urge for food. Good luck on the market!