of the day-to-day market noise. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. British Pound (which was fixed to the US Dollar which was pegged to Gold) until 1967. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. AUD uSD has put in no fewer than five lower highs and lows since topping out nearly six months ago. Share: tags: AUD, AUD uSD, Technical Analysis, disclaimer: The information on this web site is not targeted at the general public of any particular country. With fx nok euro the longer-term bearish channel approaching the top of that range, a break lower from the recent consolidation zone (perhaps to test the 2016 lows around.7200) is more likely than not. Losses can exceed your deposits. Latest Research, share: Amidst the second day of, fed Chairman Powells Humphrey-Hawkins testimony, disappointing UK inflation data, and a big rally in cryptoassets, the Australian dollar isnt garnering too many headlines today. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient.
The textbook definition of a downtrend is a series of lower highs and lower lows, and. AUD uSD has put in no fewer than five lower highs and lows since topping out nearly six months ago. Over that period, the pair has formed a clear bearish channel that provides clear levels of support and resistance to watch.
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All opinions and information contained in this report are subject to change without notice. As the chart below shows, the Aussie has been trending consistently lower against the greenback since its late January peak near.8100. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. The Australian Dollar had a fixed exchange rate until 1983 when the Australian Labor government floated the currency. Forex.com or gain Capital refer to gain Capital Holdings Inc. Of recent, tides have appeared to change as economic difficulties in China coupled with bear markets in metals and many commodities, have created a more opaque picture of the future of Australia's financial prospects. Looking at the upcoming fundamental data, AUD uSD traders should keep a close eye on the Australian CPI report (next Wednesdays Asian session) along with Fridays US Advance GDP reading as possible catalysts for increased volatility.