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Big session for ASX bulls as uptrend support gives way

Friday looms as an important day on the directional risks for Australia’s ASX 200 with futures puncturing through uptrend support overnight dating back to when the Fed pivoted away from rate hikes in early November. Recent history suggests it may pay to wait to see whether the break sticks.

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March 14, 2024 10:07 PM
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AUD/USD not feeling the love from perky commodity prices

AUD/USD looks heavy on the charts, weighed down by tumbling iron ore and coal prices and widening interest rate differentials with the United States.

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March 14, 2024 05:08 AM
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AUD/USD holds 200 EMA post CPI, gold snaps 9-day winning streak: Asian Open

AUD/USD held above its 200-day EMA and shows the potential to bounce today, alongside gold - despite the fact it snapped its 9-day winning streak.

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March 12, 2024 10:03 PM

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AUD/USD, ASX 200 pause for breath ahead of US CPI: Asian Open

With traders eager to price in Fed cuts, today’s US CPI could bolster the US dollar and see AUD/USD and the ASX 200 pull back further if the data comes in too hot.

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US dollar extends losses on dovish Powell comments: Asian Open

Jerome Powell said what traders wanted to hear during his testimony to the House Committee; rate cuts are coming.

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March 6, 2024 11:56 PM
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USD/JPY hints at market top, ASX 200 ready for lift off? Asian Open

With yen futures at a sentiment extreme, hawkish comments from the BOJ hint at a top for USD/JPY. And with ASX 200 futures hitting a record high ahead of the NY close, a break above 7700 is now in focus.

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February 29, 2024 10:17 PM
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AUD, NZD in focus for AU CPI and RBNZ meeting: Asian Open

Data finally begins to pick up for the week with an AU CPI report and RBNZ meeting, which places NZD/USD and AUD/NZD into focus.

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February 27, 2024 09:45 PM

AUD/USD snaps 8-day rally, ASX remains rangebound near its highs

Momentum finally turned lower on AUD/USD after its 8-day rally met resistance at the 200-day EMA.

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February 26, 2024 09:55 PM
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AUD/USD falters at the 200-day MA, ASX 200 eyes record high

AUD/USD rose for a seventh day yet left a prominent reversal candle at the 200-day EMA. Positive sentiment for the stock market could see the ASX 200 retest or even break to a new record high.

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February 22, 2024 09:43 PM
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AUD/JPY nears 17-month high, ASX 200 looks set to bounce: Asian Open

AUD/JPY has fast approached a pivotal level to hint that an eventual breakout could be on the cards, even if not immediately. The ASX 200 looks sets to bounce after positive earning from Nvidia lifted Wall Street futures after market hours.

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February 21, 2024 10:21 PM
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Australia’s ASX 200 vulnerable on shakeout of soft-landing bets

Having been a major benefactor from the soft-landing narrative, the combination of higher global interest rates and stretched valuations has Australia’s ASX 200 index under pressure.

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February 14, 2024 02:44 AM
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USD/JPY breaks 150 as bulls eye 152, AUD/USD seems on track for 64c

US inflation data was broadly higher than expected, which triggered well defined moves in favour of the US dollar and to the detriment of all else. Whilst USD/JPY and AUD/USD could retrace from their overextended moves seen on Tuesday, 152 and 64c seem like viable targets for them respectively.

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February 13, 2024 09:56 PM
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EUR/USD falters at 1.08 on CPI-eve, USD/JPY remains buoyant: Asian Open

EUR/USD snapped a 4-day winning Streak around a key resistance zone, and USD/JPY traded less than 50-pips from 150 ahead of a key YS CPI report.

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February 12, 2024 10:08 PM
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S&P 500 taps 5k record, ASX futures to extend bull-flag breakout?

The S&P 500 tapped 5k for the first time ever. But do traders have the appetite to extend its trend heading into the weekend? For now, our focus is on a bull flag pattern on the ASX 1-hour chart.

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February 8, 2024 10:16 PM
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S&P 500 hits record high, futures hint at break above 5,000

The S&P 500 reached a fresh record high and stopped just 5 points short of the 5,000 milestone thanks to strong earnings. But futures charts and market positioning suggest the S&P cash market could break higher.

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February 7, 2024 10:38 PM
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AUD/USD firms post RBA, ASX 200 eyes on China for sentiment

The RBA held their cash rate at 4.35% for a third meeting but decided not to remove their slight tightening bias from the statement, warning that “a further increase in interest rates cannot be ruled out”.

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February 6, 2024 10:37 PM

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USD extends its lead on hot ISM report, RBA up next for AUD, ASX traders

An inflationary ISM report saw bets of multiple Fed cuts reduced to send the US dollar index to an 11-week high. If the RBA come out with a dovish meeting today, AUD/USD could be headed for 64c.

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February 5, 2024 10:19 PM
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US dollar rallies, S&P 500, Dow Jones and Nasdaq tumble post FOMC

The Fed held rates and ruled out a March cut, which saw the S&P 500 suffer its worst day since September, the Nasdaq 100 falling around -1.8% and the Dow Jones form a bearish outside day at its record high. USD/JPY still looks good for a run to 150 to my technical eyes.

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January 31, 2024 10:13 PM
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AUD/USD falls, ASX probes record high on soft CPI figures, RBA-cut bets

Australia’s Q4 data report will be warmly welcomed for those calling for RBA cuts, with all headline data points coming in beneath expectations.

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January 31, 2024 01:31 AM

AUD/USD, ASX 200 caught in the crossfire of AU CPI and FOMC: Asian Open

Today’s Australian CPI report could be the difference between markets bringing forward expectations of an RBA cut or repricing a hike. And with an FOMC meeting looming, AUD/USD and the ASX 200 could be facing a bout of volatility.

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January 30, 2024 09:50 PM
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Gold futures hint at bullish reversal, ASX futures rise for eighth day

A double bottom pattern has formed on gold futures above $2000 to hint at a bullish reversal. We also note that the ASX 200 futures market rallied for an eight consecutive day, but does it have enough fuel in the tank to break above its YTD high?

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January 29, 2024 10:25 PM
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USD/JPY holds ground heading into FOMC, breakout pending? Asian Open

Looking across the FX major pairs, USD/JPY appears to have the best odds of a breakout sooner than later, given its strong rally from the December.

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January 28, 2024 10:31 PM