The Australian dollar has sold off in 2H with further frailties ahead. AUD/USD threatens to breakdown while AUD/JPY gears up for a reversal at major resistance
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.Oct 6, 20232023-10-05 09:30:41The Euro rallied the most over 2 days since the middle of September. Meanwhile, retail bets became slightly more bearish. Will EUR...has been on the decline since mid-year when the RBA appeared ready to pause interest rates once again.
It must be noted that apart from the technicals, the Aussie dollar is weighed by a number of fundamental influences like theslowdown in China and decisions made by the Reserve Bank of Australia . Get all the details our comprehensive Q4 Australian Dollar Forecast below:uptrend could come under pressure in Q4 as the threat of FX intervention by Japanese officials, in the interest of defending the, grows by the week.
Key Levels to watch for AUD/JPY include the zone of resistance around 95.55 but the current uptrend could also extend up to 97.57 . Then in the event the yen appreciates at a rapid rate, look towards the aforementioned zone of resistance turned support and the ascending trendline for breakdown signals. AUD/JPY selling on the back of increased momentum may highlight 92.60.
With the Japanese economy proving robust coupled with wage expectations and inflation marching higher, the BoJ remains in play for further tweaks to its yield curve control policies. The bank has also been forthcoming with its thoughts on withdrawing from its long standing negative interest rate policy – adding a further potential driver for the yen.
We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.a registered Introducing Broker with the Commodity Futures Trading Commission and is no longer a Member of the National Futures Association in the U.S. Any and all information provided by FXP is not intended for use by U.S. residents or individuals domiciled in the U.S.
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