Forex Orders


There are a couple to take note of, as highlighted in bold.

However, they may not feature too much into play given the state of play in major currencies this week.

The first one being for USD/JPY at the 155.00 mark but the pair is feeling rather heavy already in the handover from Asia to Europe today as seen here. The break of the 100-day moving average at 155.35 is arguably the more important one from a technical perspective. So, that doesn’t put too much significance on the figure level on the day. But still, it could act as a bit of a magnet in drawing price action in the hours ahead. That at least until we get to the US PMI data later on.

Then, there is one for AUD/USD at 0.6600 which could help to keep price action more contained alongside some key technical levels. The 100 and 200-day moving averages for the pair are resting in the region of 0.6584-07 currently. And that could help to limit losses for now, barring any major selloff in risk trades today. But that might only come later on in US trading, when Wall Street enters the fray.

For more information on how to use this data, you may refer to this post here.



Source link

Articles You May Like

Federal Reserve speeches on Wednesday from Cook, Collins, Barr, Bowman
Newsquawk Week Ahead: UK data; RBA Minutes; Japanese CPI
Weekly crude oil inventory data shows build of 0.545M vs 0.138M estimate
Credit Agricole: 2025 will not be a repeat of the USD’s 2018 rally
More from Goolsbee: Feels like we are heading to 2% inflation

Leave a Reply

Your email address will not be published. Required fields are marked *