AUD/USD surges due to central bank

Note: This section contains information in English only.
Source: Dukascopy Bank SA


On April 5, the Reserve Bank of Australia published its Rate Statement. The central bank kept the Australian base interest rate at 0.10%. Meanwhile, the central bank revealed that due to the ongoing surge in commodity prices, the Australian economy is doing very good. Moreover, inflation remains near normal levels, which indicates that there is no urgent need for monetary tightening.

The AUD/USD reacted to the news with an immediate 67 base point or 0.89% surge during the first fifteen minutes after the announcement. Moreover, the surge continued, as by 07:30 GMT the rate had reached 0.7640. On a larger scale, the currency pair has surged through the 2021 October and June high levels at 0.7555 and 0.7617.

In general, technical analysis is currently obsolete, as the rate is taking in the info. All technical resistance levels were broken during the surge. However, note that the pair's surge started from the support zone at 0.7537/0.7540.

In regards to the future, most likely market participants have to wait until the buying ends and the markets calm down to continue the analysis.

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Tue, 05 Apr 2022 07:47:59 GMT

GBP/JPY, on Tuesday, ignores technical levels

During the early part of Tuesday's trading hours, the GBP/JPY currency exchange rate initially passed below the support of the 50 and 200-hour simple moving averages and the recent low level trend line. The SMAs had kept the pair up throughout Monday. However, the event was not followed by a sharp decline, as the pair started to recover almost immediately.

Tue, 05 Apr 2022 07:31:07 GMT

EUR/JPY decline reaches below 134.50

On Monday, the EUR/JPY currency pair passed below the support zone at 135.15/135.30. Afterwards, the rate found short term support in the 135.00 and 134.50 level. On Tuesday morning, the rate extended its decline by reaching below the 134.50 mark. If the currency exchange rate continues to decline, support might be found in the combination of the 134.00 mark,

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