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The Aussie dollar has rallied a little bit during the early hours to touch the day EMA on Thursday as the market continues to look for its footing.

The Aussie dollar has rallied a little bit during the early hours to touch the day EMA on Thursday as the market continues to look for its footing. So, I think that the Australian dollar is still essentially stuck in an area of consolidation and noise. The question now is where is the top? I think that is what is being asked. I believe at this point in time, the 0. And then again, you also have to watch the day EMA that has already caused some noise. If we were to break above the 0.

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FX Empire. Crude Oil Anything below the 0.

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The Australian dollar continues to consolidate on Monday in lackluster trading. The Aussie dollar continues to consolidate and chop around as we see a lot of back and forth trading. Ultimately, the 0. With that being said, do pay attention to the fact that the day EMA above is offering a certain amount of resistance right along with the day EMA. If we do break out of this consolidation area, then I think you have a big move ahead. And if I had to bank on one or the other, it would probably be a breakdown below the bottom. In that scenario, we are more likely than not to go to the 0.

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Taking a look at the Australian dollar you can see that we have been hanging around the 0. Underneath, we have the day EMA that could come into the picture offering support, but if we rally from here, then we have the shooting star that formed on Friday that could offer resistance all the way to the 0. A short term pullback does make a certain amount of sense as we would go in the middle of the consolidation range, where the 0. You also have to pay attention to Asia and what commodities are doing in general underneath. If we were to break the 0. Currently, people are paying more attention to the fact that the Federal Reserve is going to cut rates later this year than anything else. So, at this point, it certainly looks like people are willing to at least support this currency. This article was originally posted on FX Empire.

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I believe at this point in time, the 0. The Aussie dollar has rallied a little bit during the early hours to touch the day EMA on Thursday as the market continues to look for its footing. So, I think that the Australian dollar is still essentially stuck in an area of consolidation and noise. I think at this point in time it should become a little bit more obvious, but in the short term expect quite a bit of volatility and noisy behavior. The greenback has bounced this year as strong economic data and warnings from Fed officials the inflation fight was not over supported expectations that rate cuts will be pushed out to June or later in the year. BEIJING Reuters -As the annual meeting of China's parliament approaches next month, its leaders are facing the greatest pressure in almost a decade to take bold policy decisions that safeguard the economy's long-term growth potential. On the downside, you have the 0. Read full article. Christopher Lewis. So, I think that the Australian dollar is still essentially stuck in an area of consolidation and noise. Silver Federal Reserve's interest rate stance.

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After all, Chinese economic numbers have been a bit of a mess as of late, so that is something worth paying attention to. Nasdaq 16, Several Federal Reserve policymakers warned Thursday against cutting U. I think at this point in time it should become a little bit more obvious, but in the short term expect quite a bit of volatility and noisy behavior. I think that is what is being asked. Jakarta Composite Index 7, Weekly pplications for unemployment benefits to , even as more high-profile companies announce layoffs. Headline inflation in January was up 2. I believe at this point in time, the 0. Christopher Lewis.