A restoration of danger urge for food despatched the Aussie greater throughout the board at the moment.

However can AUD/USD transfer previous its intraweek excessive resistance zone?

Earlier than shifting on, ICYMI, yesterday’s watchlist regarded for bullish consideration for EUR/CHF forward of ECB’s coverage determination. Be sure you try if it’s nonetheless a sound play!

And now for the headlines that rocked the markets within the final buying and selling periods:

Recent Market Headlines & Financial Information:

Single-family housing begins up by 1.1%, constructing permits rebounded by 13.8% in February signaling that the housing market might be stabilizing amidst greater mortgage charges

U.S. labor market stays tight because the preliminary jobless claims dropped by 20K (probably the most since July) to 192K and reversed a spike from the earlier week.

Philadelphia Fed manufacturing index improved from -24.3 to -23.2 in March, however missed -15.6 estimates and marked its seventh consecutive adverse studying.

ECB raised rates of interest by 50bps as anticipated and goes “data-dependent” going ahead.

ECB stated it’s carefully watching “present market tensions” and is “prepared to reply as essential to protect value stability and monetary stability within the euro space.”

U.S. Treasury Secretary Janet Yellen advised lawmakers that the U.S. banking system is “sound” however warned that solely uninsured deposits able to creating systemic dangers shall be protected.

Regional financial institution First Republic Financial institution obtained $30B lifeline from a gaggle of enormous U.S. banks together with Financial institution of America, JP Morgan, and Citi to assist stabilize depositor base.

Oil snaps declining streak as Saudi, Russia assembly calms markets

Worth Motion Information

Overlay of AUD Pairs 15-min

An absence of recent catalysts saved the main currencies in tight ranges till about halfway via the Asian session when risk-taking dominated the headlines.

The Swiss Nationwide Financial institution (SNB) giving Credit score Suisse a lifeline and the U.S. monetary establishments banding collectively to create a rescue package deal for First Republic Financial institution may need additionally helped maintain the bullish momentum for “dangerous” bets like AUD, NZD, CAD, GBP, and EUR.

AUD, particularly, steadily gained floor and revisited numerous its intraweek highs againts its main counterparts forward of the European session open.

Eurozone’s ultimate CPI launch at 10:00 am GMT
U.S. industrial manufacturing at 1:15 pm GMT
U.S. preliminary UoM client sentiment report at 2:00 pm GMT

Use our new Foreign money Warmth Map to rapidly see a visible overview of the foreign exchange market’s value motion! 🔥 🗺️

AUD/USD 15-min Foreign exchange Chart by TradingView

AUD/USD took full benefit of the risk-friendly vibe and was one of many greatest winners of at the moment’s Asian session.

The pair began the day close to its U.S. session highs earlier than rising by only a bit greater than 80 pips or its full every day ATR.

However can AUD maintain its bullish momentum?

AUD/USD is now consolidating at .6710, which strains up with R2 of its Customary Pivot Factors on the 15-minute timeframe.

Extra importantly, .6710 is true across the pair’s unbroken resistance ranges this week.

With solely the U.S. preliminary UoM client sentiment report on the docket, you possibly can wager that merchants will proceed to cost of their international banking considerations (or aid).

Deal with the swift actions of authorities and different main banking establishments can bust AUD/USD from its present consolidation and take it to the .6740/.6750 ranges close to the Pivot Level’s R3.

But when we see profit-taking or danger aversion within the subsequent couple of hours, then AUD/USD may dip again right down to the .6680 or .6660 earlier areas of curiosity.

What do you suppose?