Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Octa trading broker
Open trading account
Back

AUD/USD reaches new five-month highs amid optimism, ignoring overbought conditions

  • AUD/USD is extending its gains above 0.70, hitting the highest since late July.
  • Optimism about the Chinese economy, US-Sino relations, and USD weakness are behind the move.
  • The next levels to watch are 0.7045 and 0.7075.

Australians are among the first in the world to celebrate the new year – and some may find joy in the new cycle highs that AUD/USD reaches. At the time of writing, the Aussie hit a new high of 0.7013 against the dollar, last seen on July 28.

The US dollar is unwinding some of its gains of 2019 as money managers adjust their portfolios. Apart from end-of-year flows, the greenback is also sold off amid optimism that a Chinese delegation will sign a trade deal in Washington as soon as this weekend. 

Moreover, the A$ is benefiting from an improvement in the Chinese economy. The official Purchasing Managers' Index for the manufacturing sector has advanced to 50.2 points, with encouraging components. China is Australia's No. 1 trade partner.

The US Conference Board Consumer Confidence and housing figures are of interest today. The statistics are released when Australians will already be in 2020.

AUD/USD Technical Analysis

AUDUSD technical analysis January 1 2020

The Relative Strength Index on the four-hour chart is well above 70 – indicating overbought conditions. Nevertheless, momentum is positive and the Simple Moving Averages are on the rise. 

Resistance awaits at 0.7045 and 0.7075, which date back to July. The round number of 0.71 is the next level to watch.

Support is at 0.6940, which was a swing high in early December. It is followed by 0.6880, 0.6840, and 0.68.

 

GBP/USD challenging the 1.3200 level

Despite most markets being closed amid the New Year’s Eve holiday, major currencies are showing signs of life, with the greenback still being the weak
Read more Previous

India Infrastructure Output (YoY) climbed from previous -5.8% to -1.5% in November

India Infrastructure Output (YoY) climbed from previous -5.8% to -1.5% in November
Read more Next