Octa trading broker
Open trading account

Forex: AUD/USD bouncing off lows, around 1.0420

After dipping as low as 1.0393 the Aussie dollar has managed to pick up the pace and climb to the current area around 1.0420

Recall that the RBA left intact the refi rate at 3.0% in its monetary policy meeting, in line with the majority of the consensus, although the statement turned up to be more dovish than expected.

“So the RBA is dovish but allowing recent easing to flow through before thinking of cutting again. They don’t discuss the currency much for fear of being labeled as a ‘currency war participant’ but it must be front and center on their radar…”, commented analyst Adrian Foster at Rabobank.

The cross is now losing 0.16% at 1.0420 facing the next support at 1.0380 (Lower Bollinger) and then 1.0361 (low Dec.28/Feb.1).
On the flip side, a break above 1.0457 (MA10d) would clear the way to 1.0468 (MA55d).

Forex Flash: USD/CHF expected to close below 0.9076 - Commerzbank

Commerzbank analyst Karen Jones still awaits a close below the January low of 0.9076 after yesterday's consolidation, expecting the near term consolidation/correction to continue. "We note the 13 count on the daily chart and the divergence of the daily RSI and this adds weight to the idea of some consolidation/rebound ahead of psychological support at 0.9000", she wrote, pointing resistance at 0.9165 in intraday rallies.
Read more Previous

Forex: USD/CHF holding above 0.9100

After an early rise up to the 0.9100 surrounding area, the market has been trading sideways the whole time, with a temporary rise to 0.9115 ahead of Swiss data that was quickly retraced.
Read more Next