Aussie Mildly Firmer in Quiet Trading, Awaits Tomorrow's RBA
Action Insight Mid-Day Report 4-1-22

Aussie Mildly Firmer in Quiet Trading, Awaits Tomorrow's RBA

Overall, the financial markets are very quiet in Asian session today. Commodity currencies are trading mildly firmer in very while Swiss Franc and Yen are softer. But major pairs and crosses are stuck inside Friday's range. Gold dips mildly after prior rejection by 1950 and it could be heading back to 1900 handle. WTI crude oil is staying in narrow range above 100, giving little reaction to news that EU is considering fresh sanctions, including gas embargo, on Russia for its intensifying war crimes in Ukraine.

Technically, some attention will be paid to Aussie pairs ahead of tomorrow's RBA rate decision. AUD/USD consolidating below 0.7539 for now and further rise is expected. Decisive break of 0.7555 resistance would solidify the near term momentum back towards 0.8006 high. AUD/JPY is also holding well above 89.91 minor support as consolidation from 94.29 extends. Further rally is expected through 94.29 at a later stage as larger up trend resumes.

In Asia, at the time of writing, Nikkei is up 0.08%. Hong Kong HSI is up 0.94%. China is on holiday. Singapore Strait Times is up 0.11%. Japan 10-year JGB yield is down -0.0053 at 0.211.

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Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

AUD/USD Daily Report

Daily Pivots: (S1) 0.7474; (P) 0.7499; (R1) 0.7526; More...

Intraday bias in AUD/USD remains neutral for consolidation from 0.7539. Further rally is expected wit h 0.7372 minor support intact. On the upside, decisive break of 0.7555 should confirm that whole corrective decline from 0.8006 has completed at 0.6966. Further rise should then be seen back to retest 0.8005. However, break of 0.7372 will dampen this bullish view and turn bias back to the downside for 0.7164 support instead.

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EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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