USD regains strength

(Jing Ren – Orbex)

AUD/USD struggles for bids

The Australian dollar takes a hit as risk appetite continues to recede across markets despite the RBA’s 50bp hike. A bearish MA cross on the daily chart shows a deterioration in sentiment. A fall below the demand zone near 0.6800 has left the aussie vulnerable. A lack of buying interest may send the pair to the recent lows around 0.6680, which is a critical floor to keep the price afloat in the medium-term. 0.6830 is a fresh hurdle but rebounds have so far been opportunities to sell at a better price.

US oil tests critical floor

WTI crude weakens due to lingering concerns over demand. The recent bounce has failed to clear the daily resistance at 109.00, given back all its gains instead by retesting the base at 91.50. As sentiment remains pessimistic, the path of least resistance might still be down. A bearish breakout would force the bulls to bail out and attract momentum sellers, exacerbating volatility in the process. A drop below the psychological level of 90.00 could extend losses beyond 85.00. A recovery may be brief with 97.20 as the first resistance.

UK 100 in limited recovery

The FTSE 100 struggles as the UK’s finances might over-stretch with the energy crisis. On the daily chart, the index is going sideways between two boundaries 7000 and 7640. A breakout on either side would dictate the next direction in the weeks to come. In the meantime, range trading could be the name of the game. The short-term recovery is heading up to 7380, but 7480 from a faded bounce could be a tough level to crack. On the downside, 7180 is the immediate support and 7050 a major level to test the bulls’ resolve.

Intraday news and views – USD/CHF

(AceTrader Team)

Intraday USD/CHF – 0.9848

As dlr has edged higher on renewed usd’s strength in Australia following retreat Tuesday’s fresh 6-week high of 0.9863 to 0.9819 in New York morning, daily bullishness is retained for re-test of July’s high at 0.9886, however, reckon 0.9916 would hold in Asia.

Intra-day retreat from 0.9869 may head back to 0.98 30/35 before up n only below 0.9817 risks 0.9800/05.

Murrey math lines: USD/JPY, USD/CAD

(RoboForex Team)

USD/JPY, “US Dollar vs Japanese Yen”

On H4, the quotes have reached the overbought area. We should expect a bounce off 8/8 and subsequent falling to the nearest support level of 7/8. The scenario can be cancelled by rising over the resistance level of +1/8, in which case growth will continue so that the quotes might reach +2/8.

On M15, the lower line of VoltyChannel is too far away from the current price, so falling can be signaled by just a bounce off 8/8 on H4.

USD/CAD

The situation on the USDCAD chart is similar to that on the previous chart. On H4, the quotes have reached the overbought area. We expect a bounce off 8/8 and subsequent falling to the support level of 6/8. The scenario can be cancelled by rising over the resistance level of +1/8. This will push the price further upwards to +2/8.