7 Dec 2015
AUD/USD supported on 0.73 handle before Tue's jobs data
FXStreet (Guatemala) - AUD/USD has opened steady at the start of the Asian week that is to be expected in light trade and without much in the way of events domicile to the Aussie until the employment data later on in the week.
For today, we have the ANZ job ads and the AIG construction sentiment survey came out below prior of 52.1 vs actual 50.7 for November - not a market moving event. The unemployment rate is expected to come at 6.0% vs 5.9% previous while bullish markets will be looking for an improvement of the October employment change of 58.6k.
AUD/USD in FOMC build up
Besides that, the build up to the FOMC meeting and Fed decision could be a quiet one, given we have had all the data worth monitoring in respect to that meeting, as explained by analysts at RBS and unless there are any surprises until that meeting, the Aussie may be found to be trading in a range of between the 200 4hr SMA at 0.7185 (Nov 29 recent low) and the psychological 0.7400 level.
AUD/USD levels
Within the aforementioned range, 0.7300 was taken out on a couple of occasions last week, but not left behind and could continue to remain as a supporting foundation outside of any drastically poor news in Australia or from a full-on come back in the greenback ahead of the FOMC.
While the 200 DMA at 0.7458 marks a psychological target, the price remains in a bullish trend and set up while trading at the highest levels since the start of November's recovery. The 20 SMA on the 1hr sticks has been a buy on shallow dips, while on the 4hr time frame it acts as a deeper support at 0.7320 short-term, supporting price on the 0.73 handle. There is a lack of directional strength and continued sideways action may open the possibility of tests to the downside, with S1 at 0.7281, S2 at 0.7228 and S3 at 0.7176.
For today, we have the ANZ job ads and the AIG construction sentiment survey came out below prior of 52.1 vs actual 50.7 for November - not a market moving event. The unemployment rate is expected to come at 6.0% vs 5.9% previous while bullish markets will be looking for an improvement of the October employment change of 58.6k.
AUD/USD in FOMC build up
Besides that, the build up to the FOMC meeting and Fed decision could be a quiet one, given we have had all the data worth monitoring in respect to that meeting, as explained by analysts at RBS and unless there are any surprises until that meeting, the Aussie may be found to be trading in a range of between the 200 4hr SMA at 0.7185 (Nov 29 recent low) and the psychological 0.7400 level.
AUD/USD levels
Within the aforementioned range, 0.7300 was taken out on a couple of occasions last week, but not left behind and could continue to remain as a supporting foundation outside of any drastically poor news in Australia or from a full-on come back in the greenback ahead of the FOMC.
While the 200 DMA at 0.7458 marks a psychological target, the price remains in a bullish trend and set up while trading at the highest levels since the start of November's recovery. The 20 SMA on the 1hr sticks has been a buy on shallow dips, while on the 4hr time frame it acts as a deeper support at 0.7320 short-term, supporting price on the 0.73 handle. There is a lack of directional strength and continued sideways action may open the possibility of tests to the downside, with S1 at 0.7281, S2 at 0.7228 and S3 at 0.7176.