Positive Employment Data Provides Support To The Australian Dollar

• 15 Feb 2018

AUD/CHF

After a sharp sell-off in the pair, the Australian dollar appears to be making a recovery. Sentiment has turned bullish and buying pressure has been increasing in recent trading sessions. RSI is bullish and MACD has begun a momentum reversal, heading in a more positive direction.

Impact event: RBA Governor Lowe will deliver a speech at 00:30 GMT+2 and comments will likely impact AUD pairs.

EUR/AUD

The EUR/AUD pair has hit a previous market top at the 1.572 price level. There is clear selling pressure however price action remains in range. RSI has moved away from an overbought position but has flattened in bullish territory. Fundamental factors are likely to affect near-term direction for the pair.

GBP/JPY

The GBP/JPY pair has broken the 149.97 support line alongside consecutive breaks of the lower Bollinger band. There appears to be further downside potential, given the fact that MACD has broken the zero line to confirm bearish sentiment and RSI continues towards the oversold 30 zone.

NZD/USD

The NZD/USD pair has reached a market top at the 0.739 price level where it is testing the upper Bollinger band. It seems likely that this price level will represent a market top for the pair once again, as RSI is reaching overbought conditions and MACD has been decelerating.

Impact event: U.S. PPI data will be released at 15:30 GMT+2 and will impact all USD pairs.