AUD is looking deeply oversold against some of its peers and could stage a minor rebound in the short term. What is the outlook for AUD/USD, EUR/AUD, and GBP/AUD?
Daily Technicals
Uncertainty Around ECB Rate Meeting Highlights EUR/USD, US CPI to Keep the Dollar Bid?
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Germany 40-bearish contrarian trading bias.
The British Pound may be readying to extend lower against the US Dollar with a bearish Head & Shoulders chart formation in play. Meanwhile, will GBP/JPY hold at the 50-day Moving Average?
Natural gas prices rallied close to 7% this past week, but that has hardly changed the broader technical picture. Still, the near-term outlook looks slightly more bullish.
Microsoft, Google and Meta provide Q2 trading updates in the same week the FOMC and ECB are likely to hike by 25 basis points respectively. Does the recent dollar rebound have legs and will the Nasdaq test the all time high?
The US Dollar is on course to finish this week strong, a meaningful turnaround from the previous one. But, with prices at resistance, can DXY pierce a key ceiling?