Bearish USD Setup Continues to Take Shape- AUD/JPY Range in Focus
Here you can find all the latest breaking forex and currency news about Bearish USD Setup Continues to Take Shape- AUD/JPY Range in Focus including currency analysis and forecasts, live foreign exchange rates, central bank interest rates, and currency trading strategies from experienced fx traders and forex platforms.
Talking Points:
- Bearish USDOLLAR Setup Remains Favorable Following Dovish FOMC
- GBP/USD Rallies to Fresh High (1.7062); DailyFX SSI (-5.84) Favors Further Gains
- AUD/JPY to Eye Range Support on Another Failed Attempt to Close Above 96.00
Index |
Last |
High |
Low |
Daily Change (%) |
Daily Range (% of ATR) |
DJ-FXCM Dollar Index |
10431.95 |
10447.06 |
10417.7 |
-0.09 |
86.20% |
USDOLLAR(Ticker: USDollar):
- Downward trending channel & bearish RSI remains in play as Federal Open Market Committee (FOMC) trims growth & inflation forecast.
- With the break below soft support (10,440), next objective comes in at 10,406 (1.618% Fib expansion)
- Will watch May (10,370) & October (10,354) lows as dollar carves lower-high in June.
GBP/USD:
- Clears near-term resistance (1.7020-30) despite contraction in U.K. Retail Sales
- BoE board member Ian McCafferty argues for early interest rate hike.
- Still favor opportunities to ‘buying dips’ as next topside target comes in around 1.1710-20 (78.6% expansion).
AUD/JPY
- Range play favored amid string of failed closes above 96.00 handle.
- Weekly low (95.18) in focus amid Fibonacci confluence around 95.10-20.
- Long-term bearish RSI momentum remains intact.
For more updates, sign up for David's e-mail distribution list.
Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!
Read More:
US Dollar Targets Fresh Lows versus Euro, Sterling for this Reason
Price & Time: Kiwi "Still Dancing"
USDOLLAR Daily
Chart - Created Using FXCM Marketscope 2.0
- Interim Resistance: 10,602 (38.2 retracement) to 10,615 (78.6 expansion)
- Interim Support: 10,354 to 10,375 (50.0 retracement)
Release |
GMT |
Expected |
Actual |
Initial Jobless Claims (JUN 14) |
12:30 |
313K |
312K |
Continuing Claims (JUN 7) |
12:30 |
2600K |
2561K |
Philadelphia Fed. (JUN) |
14:00 |
14.0 |
17.8 |
Leading Indicators (MAY) |
14:00 |
0.6% |
0.5% |
Click Here for the DailyFX Calendar
--- Written by David Song, Currency Analyst
To contact David, e-mail [email protected]. Follow me on Twitter at @DavidJSong.
To be added to David's e-mail distribution list, please follow this link.
Trade Alongsidethe DailyFX Team on DailyFX on Demand
Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.
New to FX? Watch this Video
Join us to discuss the outlook for the major currencies on the DailyFXForums
original source
The article above is about breaking forex and currency news regarding Bearish USD Setup Continues to Take Shape- AUD/JPY Range in Focus, if you have any question about it. Please contact us by using the link below. Thanks for your patience.
- Japanese Yen Gains, Nikkei Falls as BOJ Leaves Policy Unchanged
- Chinese Business Sentiment Contracts for the First Time in 4 Months
- Dismal UK Retail Sales to Spur Another Test of GBP/USD Resilience
- Forex-Webinar:-FOMC-Minutes-Reinforce-Hike-Forecast
- Trading Video: Dollar Fails to Rally on Hawkish FOMC, Equities Rally
- Among Top Themes, Where is the Risk Most Potent: Fed Hike, China, EM?
- EUR/USD Technical Analysis: Looking to Short on Bounce
- US Dollar Declines as FOMC Minutes Bring Nothing New to the Table
- US DOLLAR Technical Analysis: USD Holds Support on FOMC Minutes
- WTI Crude Oil Price Forecast: What Now That $40bbl Broke?
- Fingertrp Scalping with James Stanley (Using Tradingview Charts)
- EUR/USD Risks Fresh Monthly Lows on Hawkish FOMC Minutes
- Analyst Pick - Kiwi & CAD in Focus
- Price & Time: USD/CAD ? It?s Showtime
- GBP/USD Ranges Ahead of FOMC Minutes
- President Xi Warns That China Faces Considerable Downward Pressure
- FOMC Minutes Later Today - USD Set for October 28 Redux
- Silver Price Is Targeting Its Yearly Low
- FTSE 100: Commodity Markets Wants to See The FTSE 100 at 6040
- DAX 30: Momentum Slows Down, FOMC Minutes on Tap
- US Dollar May Extend Gains as Fed Minutes Foreshadow Rate Hike
- Copper Surplus Faces Falling Premiums; Gold Slides before Fed Minutes
- China Real Estate Market Recovery Slows in October
- Traders Not as Confident of Fed Hike as Markets, Economists
- EUR/GBP Technical Analysis: Euro Drops to 3-Month Low
- Dollar Unmoved After China Treasury Holdings Hit a 7 Month Low
- Can Dollar Climb Continue After FOMC Forecast Shift?
- Dollar’s CPI Rally Lacking, Stall in Risk Raises Yen Crosses Appeal
- NZD/USD Technical Analysis: Short Trade Activated Sub-0.65
- Will the DAX Crack or Cower from Resistance?