27 Jan 2015
AUD/USD soft on benign NAB business confidence improvements
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7912, with a high of 0.7929 and a low of 0.7906.
AUD/USD has been offered from NAB’s Monthly Business Survey for December 2014. The Survey again shows a patchwork economy with little-to-no momentum building. Below 0.7910 is significant as a support line protecting the bearish gap which is ahead of yearly lows at 0.7857.
Now we look ahead to Wednesday. The Australia's CPI for the fourth quarter is released and this will be closely monitored as traders are concerned around the RBA next month given the recent surprise cut from the BoC. All this comes on the same week as the FOMC of course, so volatility at key levels will be the basis for the course of the Aussie ahead of the RBA next month.
AUD/USD has been offered from NAB’s Monthly Business Survey for December 2014. The Survey again shows a patchwork economy with little-to-no momentum building. Below 0.7910 is significant as a support line protecting the bearish gap which is ahead of yearly lows at 0.7857.
Now we look ahead to Wednesday. The Australia's CPI for the fourth quarter is released and this will be closely monitored as traders are concerned around the RBA next month given the recent surprise cut from the BoC. All this comes on the same week as the FOMC of course, so volatility at key levels will be the basis for the course of the Aussie ahead of the RBA next month.