17 Feb 2015
AUD/USD within an air of optimism
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7814 with a high of 0.7830 and a low of 0.7741.
AUD/USD is a steady and moving in a tight range to the upside out of the 0.77 handle in consolidation of the down move from the mid point of the 0.82 handle. There has been a bid theme over the Aussie since the minutes of the RBA from yesterday's business and those pricing in an additional rate hike coming in the next meeting or two might want to think again on the basis of a more neutral tone from the Central Bank.
Meanwhile, the pair is in a sideways drift technically since holding form above key support at the 2013/15 down channel and psychological 0.7600 level; there is an air of optimism around for a correction to the upside. Karen Jones, chief analyst at Commerzbank explained that in such a case, attention reverts this week to the 20 day ma at 0.7832, the 7th Jan low at 0.8034 and the downtrend at 0.8024. "A close above here is needed to alleviate downside pressure."
AUD/USD is a steady and moving in a tight range to the upside out of the 0.77 handle in consolidation of the down move from the mid point of the 0.82 handle. There has been a bid theme over the Aussie since the minutes of the RBA from yesterday's business and those pricing in an additional rate hike coming in the next meeting or two might want to think again on the basis of a more neutral tone from the Central Bank.
Meanwhile, the pair is in a sideways drift technically since holding form above key support at the 2013/15 down channel and psychological 0.7600 level; there is an air of optimism around for a correction to the upside. Karen Jones, chief analyst at Commerzbank explained that in such a case, attention reverts this week to the 20 day ma at 0.7832, the 7th Jan low at 0.8034 and the downtrend at 0.8024. "A close above here is needed to alleviate downside pressure."