AUDUSD is currently trading inside an ascending channel on its daily time frame and is testing support. Price is also moving inside a short-term descending channel and might need to break past the resistance before establishing bullish momentum.
North Korea tensions have again dominated the agenda at the start of this week and will continue to remain a major obstacle facing risk-sensitive assets in the near-term.
China’s foreign exchange regulator has approved a bigger amount of foreign investment in the country’s onshore financial market, official data showed on Monday.
At the start of a week full of US earnings, important economic data and a couple of central bank meetings, risk is somewhat off the menu. Equities, copper and, to a lesser degree, oil prices were all trading lower at the time of this writing.
The AUDUSD pair broke above the 0.75 level during the day on Monday, but we are still below the pressure that had formed a shooting star from the previous week.
The AUDUSD pair fell slightly during the day on Monday, but essentially did nothing.
AUDUSD has been moving in a steady uptrend, trading above an ascending trend line connecting the latest lows of price action. Price recently made a swing high near the .7350 minor psychological level before showing signs of a pullback.
The AUDUSD pair rose during the day on Monday, but struggled to make any real gains.
The AUDUSD pair initially tried to rally during the day on Tuesday, but then turned back around to fall towards the 0.70 handle.
AUDUSD could be in for a long-term reversal from the recent downtrend, as an inverse head and shoulders pattern can be seen on its 4-hour time frame. Price is on its way to test the neckline around the .7400 major psychological mark and the 200 SMA.
