- CFD trading
- CFD trading
- Markets
- Markets
- Products overview
- Forex
- Commodities
- Metals
- Indices
- Shares
- Cryptocurrencies
- Treasuries
- ETFs
- Accounts
- Accounts
- Compare our accounts
- Our spreads
- Funding & withdrawals
- Open CFD account
- Try free demo
- Platforms
- Platforms
- Platforms overview
- GO Markets trading app
- MetaTrader 4
- MetaTrader 5
- cTrader
- cTrader copy trading
- Mobile trading platforms
- GO WebTrader
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Share trading
- Share trading
- Invest in shares
- Invest in shares
- Trade ASX shares and ETFs
- Share trading platform
- Log into share trading
- Open share trading account
- Help centre
- Downloads
- Downloads
- iOS app
- Education
- Education
- Resources
- Resources
- News & analysis
- Education hub
- Economic calendar
- Earnings announcements
- Help & support
- Help & support
- About
- About
- About GO Markets
- Our awards
- Sponsorships
- Client support
- Client support
- Contact us
- FAQs
- Quick support
- Holiday trading hours
- Maintenance schedule
- Fraud and scam awareness
- Legal documents
Open Account
CFD trading
Trade CFDs on forex, commodities, indices, and more.
Open accountTo open a CFD trading account as a Company, Trust, or SMSF, apply here.
Share trading
Invest in shares and ETFs on the Australian share market.
Open accountOpen a Personal or Company/Trust/SMSF share trading account.
- CFD trading
- CFD trading
- Markets
- Markets
- Products overview
- Forex
- Commodities
- Metals
- Indices
- Shares
- Cryptocurrencies
- Treasuries
- ETFs
- Accounts
- Accounts
- Compare our accounts
- Our spreads
- Funding & withdrawals
- Open CFD account
- Try free demo
- Platforms
- Platforms
- Platforms overview
- GO Markets trading app
- MetaTrader 4
- MetaTrader 5
- cTrader
- cTrader copy trading
- Mobile trading platforms
- GO WebTrader
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Share trading
- Share trading
- Invest in shares
- Invest in shares
- Trade ASX shares and ETFs
- Share trading platform
- Log into share trading
- Open share trading account
- Help centre
- Downloads
- Downloads
- iOS app
- Education
- Education
- Resources
- Resources
- News & analysis
- Education hub
- Economic calendar
- Earnings announcements
- Help & support
- Help & support
- About
- About
- About GO Markets
- Our awards
- Sponsorships
- Client support
- Client support
- Contact us
- FAQs
- Quick support
- Holiday trading hours
- Maintenance schedule
- Fraud and scam awareness
- Legal documents
- Home
- News & analysis
- Forex
- Aussie Dollar breaks through two year price lows
News & analysisThe Aussie dollar has been dropping on the back of global volatility and a lower-than-expected interest rate hike. The AUD has dropped to its two-year lows, and it doesn’t look there is an end in sight. With the AUD already being a risk on currency the fears and pressures from a potential recession are weighing heavily and accelerating the drop.
Chart Analysis
The weekly chart shows just how weak the AUD is particularly concerning and shows that the 50-week moving average has crossed below the 200-week average. This is also known as a death cross and is symbolic of sellers taking control of price. Furthermore, the price is dropping to levels not seen since the height of the Covid 19 pandemic and the GFC before that. The most reasonable short-term target is the Covid lows at 0.55 AUD. It would be difficult to see the price dropping further below that. If the price was to drop further then 0.55 AUD, it would likely need to be on the back of some powerful catalyst. In the short term it doesn’t seem like a powerful catalyst is imminent. Although, with recessionary fears on the horizon a particularly damaging recession may be able to push the AUD lower. The daily chart further enhances just how aggressive the selloff has been. With the 50-day average dropping faster than the 200 days average the price action is worrying. The chart also shows the price in somewhat of a freefall with no immediate support.
Looking forward, with economic data still to come and more rate rises expected by the Reserve bank of Australia, maybe the country’s Central Bank can inject some strength back into the currency. However, at this stage it is fighting a losing battle.
Ready to start trading?
The information provided is of general nature only and does not take into account your personal objectives, financial situations or needs. Before acting on any information provided, you should consider whether the information is suitable for you and your personal circumstances and if necessary, seek appropriate professional advice. All opinions, conclusions, forecasts or recommendations are reasonably held at the time of compilation but are subject to change without notice. Past performance is not an indication of future performance. Go Markets Pty Ltd, ABN 85 081 864 039, AFSL 254963 is a CFD issuer, and trading carries significant risks and is not suitable for everyone. You do not own or have any interest in the rights to the underlying assets. You should consider the appropriateness by reviewing our TMD, FSG, PDS and other CFD legal documents to ensure you understand the risks before you invest in CFDs. These documents are available here.
#Forex #ForexAnalysis #ForexBroker #ForexCharts #ForexMarket #ForexNews #ForexSignal #ForexTradingNext Article
Bank of England gives Funds three days to get books in order
The Bank of England has seemingly turned its back on protecting UK Retirement funds, after initially bailing out these funds who were facing serious liquidity issues in relation to their exposure to Fixed income assets. History As a part of new UK Prime Minister, Liz Truss’s mini budget she outlined big tax breaks for mu...
October 12, 2022Read More >Previous Article
Is Ethereum Deflationary? And is it a good thing?
What is a deflationary Cryptocurrency? A Deflationary Cryptocurrency is one that burns, (mints) its supply. This process lessens the number of ...
October 11, 2022Read More >Please share your location to continue.
Check our help guide for more info.