daily market analysis from forexmart

AUD/USD Fundamental Analysis: August 26 2016

The Aussie and the US dollar hover to the range bound periods raised with 11 points at 0.7624. The quantitative measures indicated a low level but will experience a slight effect because of the grand news of Yellen on her Jackson Hole speech. The Australia and New Zealand Banking Group reported that AUD strengthened which influence the economic growth while exports from the region like coal and iron ore are consistent to have the largest volume of supply among countries all over the world.

Subsequent to the unsatisfactory rate of the AUD yesterday due to a lower-than-expected results of the infrastructures, Australian dollar still gained positively.

Australian reports have noted the statement from one of the largest government owned company of the continent, QIC Global Liquid Strategies with the head of the pension managers, Ms. Katrina King said that at US 77 cents, AUD is seen to be overvalued by 10% evaluated by the RBA's newly-developed in-house economic modeling.

While Mr. Roy Teo, an analyst from said that the ABN Amro Bank NV ended their recommendations during the closing of the third quarter since they perceived that the AUD will be bearish with a target price of 72 cents. Reports from Bloomberg issued a forecast from the RBA about the ease of movement on November and expecting the AUD to finished with 74 cents on year end.

Fundamental Analysis for AUD/USD: August 31, 2016

The AUD/USD pair went up by a few trading points but had limited gains as the US Dollar continued to increase its value. The release of the housing data yesterday caused building permits to go above as expected. In July 2016, the volume of approved houses went up by 0.2%, necclinching an eight-month steady increase, according to the Australian Bureau of Statistics.

In the area of New South Wales and Victoria, the total number of approved houses surged in July by up to 2.4% but has seen a drop in the area of Queensland, Tasmania, and Australian Capital Territory. The AUD is presently trading at 0.7571, a drop from its previous weekly high. Meanwhile the USD is steadily increasing after the Fed statement in Wyoming.

After the non-farm payrolls data were released last Friday, the USD index rallied as the market adjusts into a steady holding pattern.

GBP/USD Technical Analysis: August 31, 2016

Subsequent to the weak data introduced on Thursday is the debilitation of the sterling whilst the dollar stay behind its strong position even when the Fed announced the imminent raise for the rates intended this current year.

The pair drawn against its weekly low throughout the trades done on Thursday but the British pound demonstrated a positive gains. GBP/USD resistance is positioned in the 1.3200 level, its support moves in the 1.3100 level.

The two main indicators had a negative feedback. The MACD signaled strength for the sellers, at the same time the RSI shifted in the oversold area. The pair price recurred under the 50-EMA in the 4-hour chart. It is speculated that GBP/USD will have a downtrend when the level of support falls into 1.3050.

EUR/USD Technical Analysis: September 1, 2016

The results of the US ADP survey made an impact over the possibility of the price hike set by the Fed. Dollar is up on today's trading and perpetuated a bullish view. EURUSD attained 3 week lows in the rear of the ADP employment report favorable results. The pair is moving south with a descending trendline while the 50, 100 and 200 Day EMAs are drawn away to the pair price. The indicators stands in the negative area, MACD and RSI signaled a bearish pattern. Level of resistance exists at 1.1200, support is seen at 1.1130.

The EUR/USD is speculated to remain in the support level of 1.1130, in case that the currency pair failed to maintain its current support then the momentum investing will be altered with 1.1070.

USD/JPY Technical Analysis: September 5 2016

The Japanese yen demonstrated a weak movement despite of the positive labor statistics of US. The pair demonstrated a steep decline at the level of 103.50 and take a fresh daily lows thereafter the report of the US Non Farm Payrolls. The daily low of the USDJPY lured financiers to purchase interest which made the rate acquired price growth. Resistance level is seen at 104.50, support is at 103.50. The moving averages of the price presented a bullish tone according to the 4 hour chart while further stimulated on Friday.

MACD approached on the positive zone. RSI is situated in the overbought area. Indicators revealed signal for the buyers. It is recommended for the sellers if they are able to drive the price below 103.50 so they may earn a double.

AUD/USD Technical Analysis: September 6, 2016

In consonance with the report of the Australia Company Gross Operating Profits the Aussie demonstrated a good growth. The pair continued to flourish during the first day of the week. The buyers are able to drive the price level to 0.7600 as it became the turning point of the pair which marginally lose edge.

Moving averages keep on the neutral position as presented in the 4-hour chart. Resistance is seen at 0.7600, support is at 0.7540.

MACD lies near through the centerline. So in case that the histogram indicated a negative position the seller's strength will bolster but if it pierced within the positive territory, it will allow the buyers to rule the market. The RSI comes in at the overbought territory.

EUR/USD Technical Analysis: September 7 2016

The report of the Non-Manufacturing PMI established a slowdown result which also weakened the US dollar and lowered its monthly performance.

During the Asian and Europe session held yesterday the pair existed in the pressured area near the level of 1.1130.

EURUSD interrupted the 1.1200 level then headed in the level of 1.1270. The pair also receded the moving averages 50,100 and 200 furthermore shifted toward the north direction. The resistance approached the 1.270 level whereas the level of support is set at 1.1200.

MACD indicated a softened position of the sellers. RSI moves closer to the overbought condition.