AUD/USD heavy on dollar demand and gold slide
Dollar momentum weighs also on commodity currencies, with the AUD/USD down to 0.9350 so far today and maintaining a heavy tone after Yellen’s testimony.
Dollar momentum weighs also on commodity currencies, with the AUD/USD down to 0.9350 so far today and maintaining a heavy tone after Yellen’s testimony. The pair stands at a fresh 6-day low with greenback general demand, also heavy due gold continued slide as the metal breach $1300/oz first time since mid June.
“the hourly chart shows price below a bearish 20 SMA and indicators heading lower in negative territory, while in the 4 hours chart technical readings are also biased lower: renewed selling pressure below current levels may see the pair extending the slide towards 0.9330 strong static support level.” Mentioned 0.9330 region has contained the downside since June 6th, and a break below it exposes the 0.9250/60 price zone according to her view.
EUR/USD turns lower on Yellen’s Q&A session
The EUR/USD turned back lower and fell to fresh daily lows as Yellen begins the Q&A session of her testimony before the US Congress.
The EUR/USD turned back lower and fell to fresh daily lows as Yellen begins the Q&A session of her testimony before the US Congress.
In the prepared remarks, Yellen said the bank may move sooner if labor market keeps surprising, but that time is not yet here, sticking to her stance. However, the EUR/USD came back under pressure as soon as the Q&A started as Yellen sent mixed signals.
She said the labor market is improving, exactly what they want to achieve but Fed needs to be quite cautious to avoid "false dawns"; needs to make sure economy on solid trajectory before considering raising rates.
The EUR/USD dropped back below 1.3600 to hit a bottom at 1.3579. At time of writing, the pair is trading at 1.3585, 0.24% below its opening price.
USD/JPY returns to daily highs
After an initial shock amid talks on Espirito Santo Group’s holding company Rioforte would be preparing to file for bankruptcy, the USD/JPY bounced hard at 101.40 and now it is trading back at daily highs.
After an initial shock amid talks on Espirito Santo Group’s holding company Rioforte would be preparing to file for bankruptcy, the USD/JPY bounced hard at 101.40 and now it is trading back at daily highs.
Currently, USD/JPY is trading at 101.64, up 0.10% on the day, having posted a daily high at 101.67 and low at 101.43. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish.
USD/JPY levels
On the upside, resistances are at 101.65, 101.85 and 102.00. On the downside, the USD/JPY would find supports at 101.40, 101.25 and 101.05.
USD/JPY collapses on Yellen and Banco Espirito Santo rumors
After jumping to daily highs following US data, the USD/JPY got a hit from Fed's Yellen and, specially, the talks on Espirito Santo Group’s holding company Rioforte would be preparing to file for bankruptcy.
After jumping to daily highs following US data, the USD/JPY got a hit from Fed's Yellen and, specially, the talks on Espirito Santo Group’s holding company Rioforte would be preparing to file for bankruptcy.
According to Reuters source, Rioforte is preparing the stuff to file for creditor protection in Luxembourg.
The USD/JPY fell 20 pips from 101.65 to break below 101.50 and to trade at 101.40, lowest since July 14. Currently, USD/JPY is trading at 101.55, up 0.02% on the day, having posted a daily high at 101.66 and low at 101.43.
USD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is strongly bearish.
USD/JPY levels
If the pair continues with its decline, it would find supports at 101.40, 101.25 and 101.05. On the upside, resistances are at 101.65, 101.85 and 102.00.
AUD/USD extends 0.9360 bounce to 0.9380
After falling 40 pips from 0.9400 throughout the Asian and European session, the AUD/USD found support at 0.9360 just ahead of the American opening bell where buying interest was seen.
After falling 40 pips from 0.9400 throughout the Asian and European session, the AUD/USD found support at 0.9360 just ahead of the American opening bell where buying interest was seen.
The bounce sent the pair to 0.9380. Currently, AUD/USD is trading at 0.9378, down -0.17% on the day, having posted a daily high at 0.9403 and low at 0.9359. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.
AUD/USD sentiment
According to Gerry Davies, "Sell orders clustered up at 0.9390 to 0.9410, buy stops gathering through 0.9410."
On the downside, there are talks of sell stops around 0.9350/60.
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