AUD/USD attempts to regain some composure following the strong rejection from recent peaks near the 0.7100 barrier in a context of renewed demand for the US Dollar (USD) and expectations ahead of the RBA meeting on Tuesday.
The EUR/USD pair consolidates around last week’s close, confined to a tight intraday range on Monday. In fact, the US Dollar (USD) is pretty stable across the FX board, with little action beyond commodities.
Bitcoin has been breaking to new lows and underperforming other risky assets, but the bounce at the 1-year low price may signify the start of a bullish double bottom chart pattern.
The GBP/USD exchange rate dropped sharply as the US Dollar Index (DXY) staged a strong comeback after the recent Federal Reserve news. If dropped to a low of 1.3688, down sharply from the year-to-date high of 1.3876.
The EUR/USD exchange rate pulled back sharply as investors reacted to Donald Trump’s decision to nominate Kevin Warsh to become the next Federal Reserve Chairman. It retreated to a low of 1.1850, down from last month’s high of 1.2080.
The AUD/USD exchange rate pulled back sharply from a high of 0.7095 on Thursday to the current 0.6965. It will be in the spotlight ahead of the Reserve Bank of Australia (RBA) interest rate decision and US jobs data.