Forex: AUD/USD consolidates losses below 1.0300

The Aussie dollar is recovering ground lost, after the softer-than-expected Chinese data from the flash manufacturing PMI in February dragged the cross to session lows around 1.0260

“The Aussie should continue to ﬁnd support on dips to 1.0220/30. AUD is showing less sensitivity to JPY and Bernanke should reiterate that USD printing will remain at full pace for now. Pricing for the RBA meeting next week obviously hinges on Thu’s capex data, which should help limit AUD/USD gains to 1.0380/1.0400”, assessed Sean Callow, Strategist at Westpac.

At the moment, the pair is losing 0.20% at 1.0284 with the next support at 1.0270 (hourly lows Feb.22) and then 1.0223 (low Feb.21).
On the flip side, a surpass of 1.0327 (MA200d) would allow 1.0350 (hourly high/low Feb.20).

Feb 25, 2013

Forex: USD/CHF strolling since last Thursday

Since last Friday that the USD/CHF has been drawing trading waves as it moves back and forth from just below 0.9300 but always finding itself capped around 0.9325. Today was no different and after reaching as high as 0.9318, the market pulled to the lower band of the range. However, at the moment of writing, the USD/CHF is attempting at extending the downside.

Forex Flash: GBP/USD may consolidate ahead of further weakness to 1.5000 – Commerzbank

The GBP/USD suggest a move to 1.5375 and possibly 1.5525 correction ahead of further weakness: “We suspect we will see the market consolidate some of these losses ahead of further weakness”, wrote analyst Karen Jones, pointing to extremely negative price action resulting in the agressive slice through the 1.5271/35 target (2012 low and the 50% retracement of the move since 2009 located here) last week. “Beyond a rebound we look for losses to 1.5000 and then 1.4853, the 61.8% retracement of the 2009 move”, she added.