MRF_Trend

MRF_Trend

The AUD/NZD pair sets a fifth consecutive day of gains and stands in the overbought area. RBA surprised the markets by announcing a 25 bps hike to the 4.10% level. Australian bond yields give traction to the Australian Dollar.

MRF_Trend

AUD/NZD fails to justify downbeat New Zealand inflation numbers on early Wednesday as it slumps to 1.0790 following the data, before recovering to 1.0815 by the press time. In doing so, the exotic pair also takes clues from the overbought RSI while bouncing off the 100-SMA and an upward-sloping support line stretched from Monday.

MRF_Trend Updated 

The Australian Dollar rallied to an eight-month high on Thursday following the dovish tilt at the Federal Reserve. The Aussie was at 0.7157 the high today and trading at the best level for the bulls since 0.7283 which was scored in early June. The following illustrates the prospects of higher still with eyes on the 0.72s.

MRF_Trend Updated 

- AUD/USD seesaws around seven-month high, fades upside momentum after a five-day winning streak. - Mixed details of Australia’s Q4 Export-Import Price Index, PPI probe Aussie pair buyers. - Cautious mood ahead of the Fed’s preferred inflation also acts as an upside filter. - RBA versus Fed drama, easing economic slowdown fears underpin bullish bias.

MRF_Trend

AUD/USD pulled in breakout traders when the price broke 0.7000 and reached the 0.7060s. At this juncture, the peak formation is starting to get locked in but there needs to be a break below 0.6900 to seal the prospects of a prolonged downtrend. The following illustrates such a scenario from a bearish bias looking at the daily and short-term timeframes.

MRF_Trend Updated 

The Australian Dollar has been under pressure after the Reserve Bank of Australia took a cautious stance after a surprise contraction in employment in December. We would still need to see inflation come off more convincingly before making strong predictions about the end of the RBA's hike cycle.

MRF_Trend Updated 

AUD/USD remains sidelined around the highest levels in five months, recently picking up bids. Market sentiment dwindles as traders await key data/events. Mixed concerns surrounding China, light calendar at home also probe Aussie pair buyers. Dismal hopes from US data could surprise traders as bulls seem to struggle of late

MRF_Trend

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MRF_Trend Updated 

The US dollar recovered from its lowest level, which acted as a headwind for dollar-denominated gold. Another factor weighing on the non-yielding yellow metal was the prospect of more aggressive moves by major central banks to curb soaring inflation.

MRF_Trend

After hitting 11-month lows of $1,698 in the previous week, gold is now trying to form a base around $1,705. While investors seem divided between recession risks and the easing odds of aggressive Fed tightening, gold remains in its familiar range over the past three trading days.

MRF_Trend Updated 

Gold suffered heavy losses last week and it looks like there is still more pain to come. Target is on the 1685 USD/oz. Brent Oil also looks a little bit bearish. A move towards the 100 USD/bbl is really possible. USDCAD is testing the 38,2% Fibonacci for the third time. We are very close to a finale for this drama.