Daily Market Analysis By FXOpen

[FXOpen Trader]

Market Analysis: AUD/USD And NZD/USD Turn Bullish, Is Rally Set to Extend?


AUD/USD started a fresh increase above 0.6970 and 0.7000. NZD/USD is also rising and might aim for more gains above 0.5850.

Important Takeaways for AUD USD and NZD USD Analysis Today
- The Aussie Dollar started a steady increase above 0.7000 against the US Dollar.
- There was a break above a rising channel with resistance at 0.6960 on the hourly chart of AUD/USD at FXOpen.
- NZD/USD is consolidating gains above the 0.5755 pivot zone.
- There was a break above a key contracting triangle with resistance at 0.5710 on the hourly chart of NZD/USD at FXOpen.

AUD/USD Technical Analysis

On the hourly chart of AUD/USD at FXOpen, the pair started a fresh increase from 0.6860. The Aussie Dollar was able to clear 0.6900 to move into a positive zone against the US Dollar.

There was a break above a rising channel with resistance at 0.6960. There was a close above 0.7000 and the 50-hour simple moving average. Finally, the pair tested 0.7080. A high was formed near 0.7084 and the pair recently started a consolidation phase. There was a minor decline below 0.7075.

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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

[FXOpen Trader]

Brent Crude Price: Ceasefire Wipes Out the Geopolitical Premium


For several weeks, the oil market remained directly influenced by the US-Iran tensions. Threats to close the Strait of Hormuz kept Brent prices within the $97–110 range. Overnight on 8 April, the parties announced a two-week ceasefire, and the Strait of Hormuz reopened to shipping, immediately removing the accumulated geopolitical premium from prices. Brent declined by over 10%, falling towards the $92 per barrel level.

However, later the same day, the ceasefire came under pressure. Gulf states reported Iranian drone and missile strikes, with the UAE, Kuwait, and Bahrain confirming attacks on oil facilities and infrastructure. Iran subsequently suspended vessel transit through the Strait of Hormuz, citing a breach of the agreement by Israel, which had conducted strikes in Lebanon. Israel clarified that the ceasefire does not apply to Lebanon.

Negotiations are scheduled for 10 April in Islamabad, although the outcome remains uncertain. The market continues to show high sensitivity to any changes in diplomatic or military rhetoric. In parallel, OPEC+ approved an increase in oil production quotas on Sunday, adding further supply-side pressure.



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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

[FXOpen Trader]

European Currencies Strengthen: Dollar Under Pressure Following Ceasefire News


European currencies posted solid gains, while the US dollar came under pressure amid easing geopolitical tensions following reports of a two-week ceasefire agreement between the United States and Iran. Reduced demand for so-called safe-haven assets acted as the primary driver, prompting a reallocation of capital flows towards risk-sensitive instruments and developed market currencies.

Additional pressure on the dollar came from a sharp decline in oil prices, driven by expectations of stabilised supply through the Strait of Hormuz. This has lowered inflation risks and reinforced expectations of a more accommodative stance from the Federal Reserve. At the same time, US Treasury yields declined, further supporting a reassessment of the Fed's policy outlook. Against this backdrop, money markets are once again pricing in the probability of rate cuts before year-end, limiting the dollar's recovery potential and reinforcing the current downward momentum.



TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.