Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
AUD/USD Retail Crowd Remains Short Even as RBA Concludes Easing Cycle

AUD/USD Retail Crowd Remains Short Even as RBA Concludes Easing Cycle

David Song,

Talking Points:

- AUD/USD Retail Crowd Remains Short Even as RBA Sees End of Easing Cycle.

- NZD/USD Fails to Retain Bullish Formation Ahead of NZ Employment Report.

- USDOLLAR Struggles at Former Support; Continues to Carve Bearish Formation.

For more updates, sign up for David's e-mail distribution list.


AUD/USD Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • AUD/USD snaps back following the 25bp rate cut as the Reserve Bank of Australia (RBA) signs an end to easing cycle and closes the door for lower borrowing-costs; ongoing closes above 0.7820 (38.2% retracement) paired with the bullish RSI momentum raises the risk for a further advance.
  • Key region of interest stands at former support zone around 0.8000 (61.8% retracement) to 0.8020 (38.2% expansion).
  • Despite the bullish aussie-dollar reaction to the RBA, DailyFX Speculative Sentiment Index (SSI) shows the retail crow remains net-short AUD/USD following the interest rate decision, with the ratio holding at -1.24.


NZD/USD Daily Chart
  • NZD/USD looks poised to resume the long-term downward trend as price & the RSI fail to retain the bullish formations carried over from March.
  • With New Zealand 1Q Employment report expected to show slower rate of job growth, dismal results may dampen the appeal of the kiwi as market participants increase bets for a rate cut from the Reserve Bank of New Zealand (RBNZ).
  • Close below 0.7525 (50% retracement) to expose the next downside region of interest around 0.7430 (61.8% retracement) to 0.7440 (38.2% retracement)

Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!

Read More:

Price & Time: Downside Revival in the Kiwi?

May Forex Seasonality Foresees Dollar Rebound After April Selloff

USDOLLAR(Ticker: USDollar):

IndexLastHighLowDaily Change (%)Daily Range (% of ATR)
DJ-FXCM Dollar Index11835.9411899.1511827.86-0.4198.13%
USDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar at risk for a further decline as it comes off of former support & carves bearish outside-day (engulfing); downside targets remain favored as the bearish RSI momentum remains in play.
  • Despite the better-than-expected ISM Non-Manufacturing survey, the ongoing slack in the U.S. economy raises the risk of seeing a larger correction in the greenback as it raises the Fed’s scope to further delay the normalization cycle.
  • As the monthly opening range takes shape, may see another run at the February low (11,736) as the USDOLLAR appears to be carving a near-term top during the first full-week of May.

Join DailyFX on Demand for Real-Time SSI Updates!


Click Here for the DailyFX Calendar

--- Written by David Song, Currency Analyst

To contact David, e-mail Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.