AUD$ in focus today with RBA.

There hasn’t been too much movement across many of the FX majors but there have been some decent moves on some of the crosses. Stocks carved out a decent session though with the S&P500 closing the day above the psychological 2,100 level and any weekly close above this will be significant. The US$ is treading water as is the EUR$. The RBA meet today to announce interest rates and this is the main event of the Asian session.

USDX weekly: not doing much ahead of Friday’s NFP.

USDXweekly

EURX weekly: not much here either:

EURXweekly

TC Signal: this GBP/AUD TC signal has now closed off:

GA4

Forex: the high impact data today includes AUD RBA rates, GBP Construction PMI and NZD GDT Price Index.

E/U 4hr: not much happening here just yet:

EU4

E/J 4hr: nor here:

EJ4

A/U daily: sitting at a major level ahead of today’s RBA. See my w/e analysis for levels to watch here.

AUdaily

A/J daily: as for the A/U, not doing a lot ahead of RBA. Keep an eye on the support trend line with RBA:

AJdaily

EUR/AUD 4hr: this is still below the 1.55 level but within the daily Flag. These are the levels to watch for any RBA impact:

EA4

GBP/USD: this rallied after better than expected Manufacturing PMI but couldn’t close back above the 1.55 level. This seems to be the level to keep watching though and any bullish breakout might give a 200 pip move to the daily chart’s triangle trend line. Thus, worth watching, especially tonight with GBP Construction PMI:

G/U 4hr:

GU4

G/U daily:

GUdaily

Kiwi 4hr: still triangle bound. Watch for any impact from today’s RBA news, through AUD/NZD flows, and also from the GDT Price Index data:

Kiwi4

U/J daily: choppy within the Flag:

UJdaily

GBP/JPY 4hr: choppy under a trend line:

GJ4hr

USD/CAD 4hr: still consolidating within a triangle above 1.30:

Loonie4hr

GBP/NZD 4hr: still choppy under the 2.30 level:

GN4hr

GBP/NZD 15 min: whilst the 4hr chart appears like little happened this shorter time frame chart is a different story. I’ve been watching some of these GBP cross pairs on shorter time frames to see if they could be decent trading vehicles on their own and this was certainly one example yesterday.

The 15 min chart below shows that stalking the gap-fill trade gave over 100 pips and a later trend trade gave 180 pips….all from just one pair.

GN15min

GBP/AUD 15 min: there was a similar story here too:

GA15

I constantly struggle with the concept of watching many FX pairs versus watching just a few and these last two charts kind of prove a point 🙁