
What happened? Japanese shares fell on Monday…
2019-11-11 • Updated
AUD/JPY has been trading in a bearish bias, as it was offered by recent headlines coming from North Korea. Technically, the pair is consolidating below the 200 SMA at H1 chart and looks to test the demand zone between the 88.43 and 87.89 levels across the board, at which lies the Fibo zone of 50% and 65% respectively.
That area should provide bids for the pair and if it manages to rebound around it, we can expect rallies to reach the -23.6% Fibo level at 91.11. RSI indicator remains in the oversold territory.
What happened? Japanese shares fell on Monday…
AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.
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