Markets Swing on Rapidly Changing Trade Headlines

AUD/USD extends sideways move within 0.6340-0.6448 area. Key resistance levels in focus as bullish breakout still likely. AUDUSD has been in a tight range for almost two weeks, consolidating its rapid rally from a five-year low below its 200-day simple moving average (SMA) and within the 0.6340-0.6448 area. The 50% Fibonacci retracement of the September-April […]

 USDCHF reversed from support area Likely to rise to resistance level 0,9000 USDCHF currency pair today reversed up from the support area located between the key support level 0.8835 (which created the Morning Star in June), 38.2% Fibonacci correction of the upward impulse from December and the lower daily Bollinger Band. The upward reversal from […]

Today the RBNZ cut the OCR by 50bps to 4.75%, meeting Westpac and market expectations. According to the RBNZ the economy is now in a position of excess capacity, encouraging price- and wage-setting to adjust to a lowinflation economy. Economic activity was described as “subdued”, with business and consumer spending “weak” and employment conditions continuing […]