27 Aug 2015
AUD/USD committing where it matters most
FXStreet (Guatemala) - AUD/USD is continues trading around the 0.71 handle with a high of 0.7125 in early Asia and a low of 0.7111, having tested the downside below 0.71 overnight.
AUD/USD has been on the up since the final trading hour of the US session, with better risk sentiment with stocks recovering and trading at their best day since 2011. Both Stocks and the Aussie were recovering today, with the Aussie up from 0.7069 session lows and Stocks gaining traction as Dudley (voting dove and Vice Chair of the Fed) dampened the recovery in the greenback, aided by Durable Goods smashing expectations, when he explained a September hike was less compelling, although hoped a hike would come this year. For Australia today, we have the key Private Capital Expenditure numbers for Q2.
AUD/USD Bulls need to find 0.7180
Technically, the Bulls need to get back to the base of the two-year channel at 0.7180/60 while they are committing at key supporting levels that will otherwise confirm a further run of the downside if broken with closes. 0.7120 support is first major resistance that it is currently testing the eaters of. To the downside, the 0.7030's are the August lows ahead of the 0.7016 March 2006 lows. These levels guard 0.7000 ahead of the 2004 June low of 0.6772 on the longer term targets.
AUD/USD has been on the up since the final trading hour of the US session, with better risk sentiment with stocks recovering and trading at their best day since 2011. Both Stocks and the Aussie were recovering today, with the Aussie up from 0.7069 session lows and Stocks gaining traction as Dudley (voting dove and Vice Chair of the Fed) dampened the recovery in the greenback, aided by Durable Goods smashing expectations, when he explained a September hike was less compelling, although hoped a hike would come this year. For Australia today, we have the key Private Capital Expenditure numbers for Q2.
AUD/USD Bulls need to find 0.7180
Technically, the Bulls need to get back to the base of the two-year channel at 0.7180/60 while they are committing at key supporting levels that will otherwise confirm a further run of the downside if broken with closes. 0.7120 support is first major resistance that it is currently testing the eaters of. To the downside, the 0.7030's are the August lows ahead of the 0.7016 March 2006 lows. These levels guard 0.7000 ahead of the 2004 June low of 0.6772 on the longer term targets.