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Dollar/Swiss continued its six days losing streak while it dropped by 17 pips, closing at 0.917

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(Last update 1:11pm EST, August 21, 2021)

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Dollar/Swiss yesterday at a glance – Dollar/Swiss failed to recover all the way to 0.9187 after dipping down to 0.9159.

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Chart pattern study shows next closest resistance is at 0.9234, while the nearest support level is at 0.9042. 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 Dollar/Swiss has just crossed the upper Bollinger band at 0.8235, indicating 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 started the year by gaining 3.48%.

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Aussie/Dollar slides down to 0.7138 after starting the day at 0.7148 (down 0.14%)

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(Last update 1:11pm EST, August 21, 2021)

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Aussie/Dollar yesterday at a glance – Australian dollar remained in the 0.7138 range after starting the session at 0.7148 and dropping 9 pips.

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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 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. Asset volatility analysis shows that Australian dollar shows signs that further losses might be next, as it crossed the lower Bollinger band at 0.8161 In contrast the MACD line is below the MACD signal line significantly, meaning medium-term trend might turn positive.

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Overall, looking at the technical analysis landscape – although indicators are mixed and some are pointing in different directions it seems further drawback may be next for Aussie/Dollar.

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Aussie/Dollar is having a rough year so far losing 8.22%.

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