AUD GOES UP TO 200%

 There has been a cause for pause against that moving average level over the last few hours. However a break above should open the door for further upside probing with the 50% midpoint of the move down from the January 13 high at 0.71403 as the next target to get to and through.

What next?

With traders pausing near the 200 hour moving average, there is the risk of sellers to take back more control and move the price back below the 0.70995 level ( 38.2% retracement) and toward the swing area between 0.7080 and 0.7090. Move below that level, and the 100 hour moving average will be targeted once again.

As mentioned above, a move back above the 200 hour moving average would open up the door for a test of the 50% of 0.71403

Fundamentally today, the Reserve Bank of Australia said they would stop the quantitative easing (that was expected). They also said that they expect inflation to move higher albeit temporarily, but above there 2% target (you can read the details on FOREX ADVICE CLUB). That projection helped to reverse the trend and pushed the price back above its 100 hour moving average.

DAILY NEWS HIGHLIGHTS! On 2 February 2022

 📌 Metaverse real estate sales top $500 million, and are projected to double this year. So far, real estate sales have been concentrated on the “Big Four” — Sandbox, Decentraland, Cryptovoxels and Somnium. 

📌 Sony to buy video game maker Bungie in $3.6 billion deal as industry consolidation heats up. Bungie is behind the multiplayer shooter games Destiny and Halo, the latter of which it developed until 2010. Technology companies are increasingly interested in gaming as they look to expand audiences and prepare for future iterations of virtual- and augmented-reality devices.

📌 China plans crewed moon mission, tourism and Jupiter exploration in space race with the U.S.. China has had some notable space successes in the past few years including launching an uncrewed mission to Mars and beginning construction of its own space station.

📌 Covid-19’s Economic Fallout Batters Latin America. The region is bracing this year for rampant inflation, low growth and high interest rates that spell hardship for tens of millions of people in poverty as businesses struggle to survive.

📌 Bond Market Hints at Calm After Disruptive Selloff. Yields on longer-term U.S. government bonds have shown signs of stabilizing in recent days, easing the pressure generated on stocks by their rapid early-year climb.

🌏DAILY NEWS HIGHLIGHTS! 🌏 Date: 1 February 2022 :

🌏📌 Cryptocurrency exchange FTX hits $32 billion valuation despite bear market fears. FTX, which offers derivatives products as well as spot trading, is one of the world’s largest digital currency exchanges. FTX has built up a war chest of funds at a time when crypto prices have sunk considerably. 

📌 U.S., Russia Square Off in Rare U.N. Security Council Debate. The U.S. criticized Russia about its buildup of troops near Ukraine and sought to isolate Moscow on the international stage over the military standoff.

📌 Fed’s Policy Shift Ripples Through the Housing Market. The central bank had been the biggest buyer of mortgage bonds, but now it is stepping back and borrowing costs are rising. 

📌 Russia-Ukraine Tensions Drive Global Wheat Prices Higher. The two nations account for just under a third of global wheat exports, much of which goes to the Middle East to keep bread prices affordable.

📌 Caribbean Digital Currency, DCash, Remains Offline for Second Week. Launched in March, DCash is used by seven Caribbean nations. The Eastern Caribbean Central Bank launched DCash, making it the first monetary union in the world to use a central bank digital currency, or CBDC.

NEWYORK SESSION Today

 * DXY CORRECTION is currently in progress.  Most likely after the NEWYORK SESSION today the USD is more likely to STRONG again.

 * VIX INDEX is currently moving to DOWN SIDE.  VIX 24.83 is in the PRICE LEVEL.  However, if you fall below the VIX 20 LEVEL, the DEMAND for HIGH BEATA CURRENCIES can go up.

We kow the updates Forex Advice Club is presenting free trials with 90% accuracy.

 * RBA MEETING was held today.  However, they did not make any changes to the INTEREST RATE.  They expect to end QE on February 10th.  They further stated that LABOR DATA and INFLATION DATA FOCUS.  They say that LABOR DATA will be much better in the future than they expected.  They expect a 2% growth in GDP in 2023.  They say inflation will rise to around 3% in the coming quarters.