HomeForex MarketEach day Foreign exchange Information and Watchlist: AUD/USD

Each day Foreign exchange Information and Watchlist: AUD/USD

It’s shaping as much as be a risk-friendly type of day, which is why I’m taking a look at AUD/USD presumably breaking its short-term downtrend.

What do you consider AUD’s 1-hour chart?

Earlier than transferring on, ICYMI, I’ve listed the potential financial catalysts that you want to be careful for this week. Verify them out earlier than you place your first trades right this moment!

And now for the headlines that rocked the markets within the final buying and selling classes:

Contemporary Market Headlines & Financial Information:

IMF chief Georgieva sees ‘exceptionally unsure’ world outlook, deteriorating debt state of affairs

NZ companies PMI picks up from 55.3 to 55.4 in June – BusinessNZ

NZ inflation hits 3-decade excessive at 7.3% in Q2 2022, elevating bets on sharper fee hikes

Oil turns greater as provide considerations linger

USD eases as some merchants dial again 100bps Fed fee hike bets

Italy’s bond yields rise sharply as Draghi authorities on brink

European shares be part of world rally on enhance from cyclicals

Canada’s housing begins at 12:15 pm GMT
U.S. NAHB housing market index at 2:00 pm GMT
RBA’s assembly minutes at 1:30 am GMT (Jul 19)

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What to Watch: AUD/USD

AUD/USD 1-hour Foreign exchange Chart

Threat-taking was the secret through the Asian session because of some merchants rethinking their 100-bps fee hike bets for the Fed.

It additionally helped that Individuals’s Financial institution of China (PBoC) Governor Yi Gang promised assist for the economic system over the weekend.

After which there’s the three-decade excessive inflation launch from New Zealand, which boosted NZD and AUD as a result of merchants priced in additional tightening from RBNZ and RBA.

Talking of the Reserve Financial institution of Australia (RBA), we’ll see its newest assembly minutes through the Asian session. If the central financial institution shows sufficient optimism to permit for extra tightening, then AUD may prolong its upswing towards its counterparts.

AUD/USD may acquire momentum above .6850, which is already above a descending channel that was stable from mid-June to late final week.

I’ll be watching the 100 and 200 SMAs for clues on the energy of the “reversal.”

If AUD/USD breaks above final week’s excessive and breaches .6900, then it may discover sufficient assist to retest .7000.

But when the SMAs flip decrease once more, or if AUD/USD finds resistance at .6850, then AUD may dip again to the damaged channel resistance.

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