Aussie Surges as Risk Sentiment Improves, Euro and Sterling Shrugs Hawkish Comments
Action Insight Mid-Day Report 2-23-22

Aussie Surges as Risk Sentiment Improves, Euro and Sterling Shrugs Hawkish Comments

The markets are generally trading in risk-on mode today. New Zealand Dollar is leading commodity currencies higher, with additional boost from hawkish RBNZ rate hike. Australian Dollar is following closely, then Canadian Dollar. on the other hand, Yen and Dollar are under some selling pressure. Euro and Sterling are mixed despite hawkish comments from ECB and BoE officials.

Technically, AUD/USD's break of 0.7247 resistance reaffirmed near term bullishness and resume rise form 0.6966. Further break of 0.7313 will add to the case of bullish trend reversal. At the same time, EUR/AUD 's diving to 1.5559 support and bring will pave the way back to 1.5250 low. Break of 84.27 resistance in AUD/JPY will also resume the whole rise from 78.77 to retest 86.24. Attention will be paid to these levels to confirm underlying strength of Aussie.

In Europe, at the time of writing, FTSE is up 0.68%. DAX is up 1.07%. CAC is up 1.37%. Germany 10-year yield is down -0.001 at 0.244. Earlier in Asia, Hong Kong HSI rose 0.60%. China Shanghai SSE rose 0.93%. Singapore Strait Times dropped -0.06%. Japan was on holiday.

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

AUD/USD Mid-Day Report

Daily Pivots: (S1) 0.7182; (P) 0.7208; (R1) 0.7243; More...

AUD/USD's rise from 0.6966 resumes by breaking through 0.7247, and intraday bias is back on the upside for 0.7313 resistance. Decisive break there argue that correction from 0.8006 has completed at 0.6966, after hitting 0.6991 key support. Outlook will be turned bullish for 0.7555 resistance next. On the downside, break of 0.7163 minor support will mix up the outlook again and turn intraday bias neutral.

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EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
00:30 AUD Wage Price Index Q/Q Q4 0.70% 0.70% 0.60%
00:30 AUD Construction Work Done Q4 -0.40% 2.10% -0.30% -1.20%
01:00 NZD RBNZ Interest Rate Decision 1.00% 1.00% 0.75%
02:00 NZD RBNZ Press Conference
07:00 EUR Germany Gfk Consumer Confidence Mar -8.1 -6.2 -6.7
09:00 CHF ZEW Expectations Feb 9 9.5
10:00 EUR Eurozone CPI Y/Y Jan F 5.10% 5.10% 5.10%
10:00 EUR Eurozone CPI Core Y/Y Jan F 2.30% 2.30% 2.30%