EUR/USD 1.15251
-0.340%
Gold 4000.92
-0.581%
Oil 60.665
0.905%
USD/JPY 154.102
-0.032%
GBP/USD 1.31360
-0.106%
GBP/JPY 202.432
-0.122%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
November 3 - U.S. auto safety regulators are investigating potential defects in some Tesla (TSLA.O) door handles. The National Highway Traffic Safety Administration (NHTSA) launched its investigation just days after which consumer complaints surged, primarily reflecting battery malfunctions rendering the exterior door handles unusable. Owners of Teslas best-selling Model Y have reported door handle failures due to low battery voltage, with some cases resulting in children being locked inside the vehicle.November 3rd - Its worth noting that this policy announcement coincides with intensified competition between bulls and bears in the gold market. "Rising tax costs may further exacerbate short-term selling pressure from speculative funds," a precious metals trader noted. Some investors who had previously stockpiled gold in anticipation of price increases may choose to cash out early, while new entrants may reduce leverage due to tax concerns, potentially leading to a tightening of market liquidity in the short term. "Assuming you buy 1 million yuan worth of gold bars and sell them after holding them for a period, if the gold price increase is less than 13%, youll actually lose money after deducting taxes," the trader cautioned. Short-term speculators should be cautious, and long-term holding or using tools like gold ETFs can help avoid some tax burdens. For gold jewelry consumers, daily purchases will be almost unaffected, but the premium on "pseudo-investment gold" may narrow. Furthermore, the policy is not restricting gold investment, but rather regulating its path. In the long run, it will help deflate the market bubble. Funds will be more inclined to allocate to highly liquid standard gold or gold ETFs, rather than high-premium non-investment products.On November 3, the OPEC Secretariat announced that it had received updated compensation plans from Russia, Iraq, the UAE, Kazakhstan, and Oman to make up for overproduction, with a timeline covering the period from last month to June 2026.US Treasury Secretary Bessenter: We will study how to resume negotiations with Canada.U.S. Treasury Secretary Bessenter: Some sectors of the economy are in recession.

AUD/USD RBA Continuation of the upswing is predicated upon breaching the 0.7045-50 resistance area

Daniel Rogers

Aug 02, 2022 15:08

 截屏2022-08-02 上午9.52.31.png

 

The MACD and RSI indicators favor purchasers, but the RBA controls the market. AUD/USD trades between 0.7025 and 0.7030 during the midday Asian session on Tuesday. Traders anticipate the Reserve Bank of Australia's (RBA) Interest Rate Decision as the Aussie pair flirts with a significant northward resistance level.

 

In addition to the confluence of the 100-day exponential moving average (EMA) and the downward sloping trend line from April 20, AUD/USD bulls face the risk that the RBA may refrain from making too aggressive statements due to widespread recession concerns.

 

Notably, the early MACD signals and the RSI (14), which are not overbought, encourage AUD/USD buyers. Continuous trading above April's downward-sloping resistance line, which is currently 0.6910 support, is on the same line.

 

Should the downward swings push the quote below 0.6910, the mid-June and May lows of 0.6850 and 0.6830, respectively, will test the pair's further slide before reversing to the yearly low of 0.6680.

 

In contrast, a successful break over the 0.7050 resistance level requires confirmation from the June 16 swing high around 0.7070 prior to driving AUD/USD prices towards the 50 percent and 61.8 percent Fibonacci retracement levels of the April-July drop, near 0.7175 and 0.7300, respectively.


Suggestion