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Losing streak continues: Dollar/Swiss lost 11 pips to 0.9175 adding to its five consecutive days of drops

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(Last update 12:11pm EST, August 20, 2021)

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Dollar/Swiss weakened earlier in the trading session before moving off the 0.9159 low and recovering almost back to 0.9175.

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Important graph levels to look out for: nearest support level is at 0.9042, while the closest resistance is at 0.9234. In terms of trend indicators, we can see that at 0.9162, Dollar/Swiss made an initial breakout below the 50 day Simple Moving Average, an indication of a negative trend. Even though currently pointing down, earlier the medium-term trend indication has turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. This occurs as the MACD line crosses above the MACD signal line. The MACD line is above the MACD signal line significantly, meaning medium-term trend might turn negative. The CCI indicator is above 100. When the CCI (Commodity Channel Index) is at this level it means the price is above the average price as measured by the indicator, indicating a possible start of a new uptrend. Asset volatility analysis shows that as Dollar/Swiss crossed the upper Bollinger band at 0.8237, a sign of a possible upward correction might be next.

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Overall, technical indicators suggest Dollar/Swiss has no obvious direction for the immediate future.

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Dollar/Swiss has started this year by gaining 3.69%.

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At 0.7133 Australian dollar trades above 0.714 level for the first time in 9 months.

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(Last update 12:11pm EST, August 20, 2021)

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After starting at 0.7148 Australian dollar gained 14 pips and trades above 0.714 level for the first time in 9 months.

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Aussie/Dollar chart analysis: Australian dollar resistance level is at 0.7403. In terms of trend indicators, we can see that medium-term trend indication has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. This occurs as the MACD line crosses below the MACD signal line. The MACD line is below the MACD signal line significantly, meaning medium-term trend might turn positive. The CCI indicator is bellow -100. When the CCI (Commodity Channel Index) is at this level it means the price is below the average price as measured by the indicator, indicating a possible start of a new downtrend. Momentum evaluation shows The Relative Strength Index has gone below 30, going into oversold conditions and allowing more gains. Asset volatility analysis shows that Aussie/Dollar has just crossed the lower Bollinger band at 0.8154, indicating further loses might be next.

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Overall, technical indicators suggest Australian dollar has no obvious direction for the immediate future.

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Australian dollar is having a rough year so far losing 7.71%.

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