AUD/USD Technical Analysis
The Australian dollar has fallen during the early part of the trading session on Tuesday as we are now below the 0.7150 level and have found ourselves testing the 50-day EMA.
The 50-day EMA, of course, is an indicator that a lot of people will watch very closely. At this point, it will come down to whether or not we break down below the 50-day EMA because if we do, then that could send the market to the 0.70 level. On the other hand, if we turn around and rally from here, it could open up a move towards the 0.7275 level. The interest rates in America continue to be the main driver.
NZD/USD Technical Analysis
The New Zealand dollar, of course, has fallen as well, as we are below the 200-day EMA as well. Ultimately, the 0.58 level is an area where we have seen a lot of support previously. To the upside, the 0.59 level could be a bit of a barrier. Ultimately, I think we’re just going to consolidate here with more of a downward bias for the Kiwi dollar.
USD/JPY Technical Analysis
The US dollar continues to grind higher against the Japanese yen and it is trying to work its way towards the 160-yen level.
AUD/USD Price Forecast
Every new AUD/USD analysis as it publishes, today's technical signal and key levels, live price — on one page.
See all AUD/USD forecastsThe 160-yen level is an area that we had seen selling pressure at previously, and I do think that comes into the picture, and I think it could be a bit of a ceiling in the short term. I do like pullbacks, though, and if we pull back towards the 50-day EMA somewhere near the 158-yen level, I’d be a buyer of that. Interest rate differentials continue to favor the US dollar in a big way, and I think that is the main story here, right along with everywhere else.
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