Solid News

Australian Dollar Remains Under Pressure

12/21/2022 11:06 AM

The Australian dollar shows the weak negative dynamics, developing the "bearish" momentum formed the day before. The AUD/USD pair was noticeably declining on Tuesday and updated the local lows of November 22; however, closer to the close of the daily session, the "bulls" were able to win back a significant part of the losses. Moderate pressure on the positions of the US currency was exerted by weak macroeconomic statistics from the US. In particular, analysts drew attention to the decline in the dynamics of Housing Starts in November by 0.5% after a decline of 2.1% in the previous month. The number of Building Permits issued over the same period decreased by 11.2%, losing 3.3% in October.

In turn, moderate pressure on the positions of the Australian currency remained after the decision of the Bank of Japan to increase the range of possible deviation of government bond yields from the target levels. Analysts took this decision as the first step towards abandoning the ultra-soft monetary policy, especially since inflation in Japan is in the region of 3.5%.

Slight pressure on the position of the instrument today is exerted by statistics from Australia: the Westpac Leading Index in November fell by 0.1% after falling by 0.05% a month earlier.


Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range expands from below, making way for new local lows for the "bears". MACD is going down preserving a stable sell signal (located below the signal line). The indicator is about to test the zero level. Stochastic, having rebounded from its lows is reversing in the direction of growth, signaling in favor of the development of corrective dynamics in the near future.

Resistance levels: 0.6700, 0.6750, 0.6800, 0.6850. | Support levels: 0.6628, 0.6583, 0.6520, 0.6450.


Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Call Us
+35 924 928 392


Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using solidecn.com you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2023 SolidECN.com