22 Jul 2013
AUD/USD remains within 0.9200
FXstreet.com (London) - AUD/USD has been 0.9236 overnight but was offered below the figure this morning in European markets.
The pair have since climbed from 0.9173 and risen back through t print on a handle of 0.9200 again. In the absence of any data releases until the afternoon, the pair is mixed and is still consolidating, marking a slowdown to the overall bear trend. The CPI print data on Wednesday morning from Australia will offer markets an indication regarding RBA monetary policy. Until then, we will look to US data with Chicago Fed and Existing Homes Sales Change in the afternoon today.
AUD/USD consolidation phase
AUD/USD price action is expected to continue to be sideways. There might be some profit taking ahead of Oz CPI with the shorts looking to reduce risk going into that event. 0.9235 acts as resistance for time being but through there 0.9260 and 0.9300 resist come into play. Support is sighted at 0.9194, 0.9140 and 0.9110.
The pair have since climbed from 0.9173 and risen back through t print on a handle of 0.9200 again. In the absence of any data releases until the afternoon, the pair is mixed and is still consolidating, marking a slowdown to the overall bear trend. The CPI print data on Wednesday morning from Australia will offer markets an indication regarding RBA monetary policy. Until then, we will look to US data with Chicago Fed and Existing Homes Sales Change in the afternoon today.
AUD/USD consolidation phase
AUD/USD price action is expected to continue to be sideways. There might be some profit taking ahead of Oz CPI with the shorts looking to reduce risk going into that event. 0.9235 acts as resistance for time being but through there 0.9260 and 0.9300 resist come into play. Support is sighted at 0.9194, 0.9140 and 0.9110.