24 Jun 2015
AUD shifting in to neutral - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analysts at FXStreet explained that the Aussie was hit during the past Asian session by worse-than-expected Chinese and Australian data.
Key Quotes:
"In Australia, the first quarter House Price Index rose less than expected, reaching 1.6% against expectations of 2% advance, increasing possibilities of another rate cut in Australia."
"In Chine, June Manufacturing PMI printed 49.6, slightly above expected, but still in contraction territory, for the fourth straight month."
"The AUD/USD pair fell down to 0.7679, but managed to bounce during the American afternoon, despite general dollar strength, ending the day flat in the 0.7720 region."
"The technical picture is neutral in the short term, as the price stands above a horizontal 20 SMA, whilst the technical indicators lack directional strength, but hold in positive territory."
"In the 4 hours chart, the latest advance stalled around a bearish 20 SMA, now offering an immediate intraday resistance around 0.7750, whilst the technical indicators hold flat below their mid-lines."
Key Quotes:
"In Australia, the first quarter House Price Index rose less than expected, reaching 1.6% against expectations of 2% advance, increasing possibilities of another rate cut in Australia."
"In Chine, June Manufacturing PMI printed 49.6, slightly above expected, but still in contraction territory, for the fourth straight month."
"The AUD/USD pair fell down to 0.7679, but managed to bounce during the American afternoon, despite general dollar strength, ending the day flat in the 0.7720 region."
"The technical picture is neutral in the short term, as the price stands above a horizontal 20 SMA, whilst the technical indicators lack directional strength, but hold in positive territory."
"In the 4 hours chart, the latest advance stalled around a bearish 20 SMA, now offering an immediate intraday resistance around 0.7750, whilst the technical indicators hold flat below their mid-lines."