Be Ready to Sell AUD

Be Ready to Sell AUD

2022-12-16 • Updated

What is happening?

The Reserve Bank of Australia will hold a meeting on August 3. Analysts believe the bank may increase its quantitative easing program, while other banks are lowering their bond buys or discussing this decision.

Why?

Australia is poorly coping with the new Covid-19 wave. Sydney's current lockdown is expected to end on August 28 and there are some rumors that it might be extended. Five weeks of lockdown haven’t helped – infections continue to spread.

What to expect?

Westpac, an Australian bank, claimed that the RBA may lift the purchase pace from 5 billion Australian dollars to 6 billion. If the bank increases asset purchases, it may surprise the markets and send the AUD down.

The AUD has already weakened. It has dropped against all major peers in July! Just look at the chart.

1.png

Source: https://www.poundsterlinglive.com/

Forecast

AUD/USD is forecasted at 0.73 at the end of 2021 by Wells Fargo, 0.74 by the end of March 2022, 0.75 by the end of June 2022, and 0.76 by the end of September.

Tech tips

AUD/USD is moving inside the descending channel. However, it has been stuck in a range between 0.7340 and 0.7400 since July 21. It’s touching the upper trend line now, therefore the pair is likely to reverse down. If it drops below the 0.7340 support level, it may fall to the low of July 20 at 0.7300. Resistance levels are high of July 29 at 0.7400 and the next round number of 0.7450.

AUDUSDDaily.png

TRADE NOW

Similar

OPEC Boosts The Oil Market
OPEC Boosts The Oil Market

Brent crude futures is maintaining stability this Friday, with traders awaiting an OPEC+ meeting that might lead to further supply cuts. Brent crude was down 8 cents at $81.34 a barrel, following a 0.7% drop in the previous session.

How Will China’s Regulation Affect Oil?
How Will China’s Regulation Affect Oil?

China has issued new oil product export quotas to allow oil companies to send surplus barrels overseas, particularly Sinopec, which has the highest volume among quota holders. While the exact quota volume remains undisclosed, oil companies are forecasted to export approximately 3.5 million metric tons of clean oil products in September, a 10% increase from August.

The Oil Market in the Month of June
The Oil Market in the Month of June

Thanks to the incredible advancements in horizontal drilling and fracking technology, the United States has experienced a mind-blowing shale revolution. They've become the heavyweight champion of crude oil production, leaving Saudi Arabia and Russia in the dust. They even turned the tables and became net exporters of refined petroleum products in 2011.

Latest news

Is Bitcoin Set to Drop?
Is Bitcoin Set to Drop?

Bitcoin's price remains stagnant despite the Fed's slightly less hawkish tone. In contrast, Bitcoin has outperformed other assets, doubling in price from $16K to nearly $38K this year. Improved fundamentals, including the resolution of Binance concerns...

Top Three Trade Ideas for December 2023
Top Three Trade Ideas for December 2023

Hey folks, it’s a wrap to yet another month in the 2023 calendar, and I’m guessing you know what that means - time for another episode in the “What To Trade” series. For December, I will be mapping out trade more cautiously as the market volatility often drops

Gold Breaks To New Highs. What Is Expected In December?
Gold Breaks To New Highs. What Is Expected In December?

Gold prices, reaching the highest since May 5, are consolidating as traders await the US PCE Price Index, a key inflation indicator. The upcoming data could impact the Fed's policy, influencing the demand for the US Dollar and providing direction for gold. The Greenback sees some repositioning, recovering modestly ahead of the data risk.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera