AUD/USD is back in the negative, giving back the solid gains triggered by the RBA surprise. The RBA has raised interest rates by 50 basis points in a strong move to curb inflation. The 200-day SMA caps the upside amid risk aversion and dollar strength. AUD/USD has entered a consolidation phase below 0.7200 during the […]
Tag: RiskAversion
USD/CHF breaks below 0.9600 and hits a fresh monthly low amid risk aversion
A combination of factors dragged USD/CHF to a near one-month low on Tuesday. The risk-off environment underpinned the safe-haven CHF and put downward pressure. The general weakness of the dollar further contributed to the selling bias and the decline. The pair USD/CHF fell to a near one-month low during the early American session and is […]
AUD/USD Price Analysis: Remains bearish near 0.7075-80 but remains above the 23.6% Fibonacci level
AUD/USD saw some selling on Tuesday and eroded some of the previous day’s strong gains. Recession fears weighed on investor sentiment and pushed flows away from the risk-sensitive aussie. Sustained weakness below 0.7000 is needed to confirm that spot prices have peaked. The pair AUD/USD came under some selling pressure on Tuesday and pulled back […]
USD/JPY nears its monthly low, bears await a sustained break below 127.00
The global flight to safety buoyed the yen and caused some selling around USD/JPY. The decline in US bond yields proved to be another factor putting downward pressure. The emergence of dollar buying helped limit losses amid policy divergence between the Fed and the Bank of Japan. The pair USD/JPY maintained its bid tone during […]
WTI Price Analysis: SMA 50 in 4 hours defends the drop before the API
WTI price is reversing a drop to 108.00 amid risk aversion. Holding above the 50 SMA on the 4-hour chart is critical for oil bulls. The RSI defends the midline and supports the bulls ahead of the API data. The WTI (NYMEX futures) is attempting a bounce back above the $109.00 levelafter finding strong buying […]
USD/CAD trims intraday gains, returns below 1.2800
USD/CAD trimmed some of its intraday gains and came under pressure from a combination of factors. The modest rebound in crude oil prices underpinned the loonie and capped gains amid a weaker USD. Risk-off mood, aggressive Fed rate hike bets capped USD losses and extended support. The pair USD/CAD struggled to capitalize on its nice […]
Gold Price Forecast: XAU/USD Holds on to Gains Near $1,860 Amid Falling Yields
Gold price extends a five-day rally amid a broadly weakened US dollar. Risk aversion and falling Treasury yields fuel XAU/USD gains. A daily close above the 21-day SMA is key to further rallies. The price of gold (XAU/USD) is returning to the highest levels in two weeks, while the bulls continue to receive support from […]
USD/CHF Price Analysis: Technical setup points to more pain below 0.9700
USD/CHF flirts with monthly lows below 0.9700 as USD sinks. Risk flows dominate markets amid optimism from China and Europe. The pair heads lower as the daily RSI enters the negative zone. USD/CHF moves lower again this Monday after Friday’s temporary pullback as bears follow the US dollar’s relentless decline across the board. Optimism that […]
Forex Today – Asian Session: Dollar Surrenders Despite Risk Aversion
What to watch for on Friday, May 20: Despite persistent risk aversion, the US currency reversed course on Thursday and fell across the currency board. Fears revolved around inflationary pressures and slowing economic growth. Equity markets remained under pressure, with most Asian and European indices closing in the red, albeit off their intraday lows. Wall […]
USD/JPY Price Analysis: Drops to a new monthly low around 127.00, below the 38.2% Fibonacci level
A combination of factors caused aggressive selling around USD/JPY on Thursday. Prevailing risk aversion provided a strong boost to the yen, which is a safe haven. The sharp drop in US bond yields weighed on the dollar and added to the selling bias. The pair USD/JPY struggled to capitalize on its initial positive move and […]