All eyes are on the direction of the falling Australian dollar and the rebounding euro

All eyes are on the direction of the falling Australian dollar and the rebounding euro

09.03.2022

In yesterday’s U.S. currency markets, while the U.S. dollar rose, European currencies held firm, and GBP/USD traded in a very narrow range of about 60 pips near this month’s low of 1.308. Technically, GBP/USD is positioned just above the weekly 200-day SMA, and since the long-term trend of lower highs continues, we need to carefully assess whether the 200-day SMA will act as support and trigger a rebound.

European currencies rebounded against the Australian dollar, which had been rising on the back of higher commodity prices; the EUR/AUD pair climbed approximately 480 pips over two days, rising from this year’s low of 1.456 to 1.505. With the EUR/AUD trading below the 10-day moving average on the daily chart and the daily RSI still below 30, it will be worth watching whether the rebound that began yesterday continues.

Today, the following data releases are scheduled: remarks by RBA Deputy Governor Dever at 17:00 CET, the U.S. MBA Mortgage Applications Index at 21:00 CET, the U.S. JOLTS Survey at 24:00 CET, U.S. weekly crude oil inventories at 24:30 CET, and the U.S. 10-year Treasury auction at 27:00 CET.We want to closely monitor how the falling Oceania currencies and the rebounding European currencies will perform.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 20.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 17.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 16.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 15.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 14.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

8. 13.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 10.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

10. 09.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?