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28 Aug 2015
AUD/USD downside pressure persist below 0.72 handle
FXStreet (Guatemala) - AUD/USD has scored territory on the 0.72 handle in Asia from a low of 0.7162.
The 0.72 handle gave a strong resistance on the recovery from 0.7249's downside to 0.7069. The greenback has been taking the top spot across the board, despite a wobble on euro demand in the start of the European session with stocks preforming poorly, while AUD/USD was making a high of 0.7182. We were then in supply down to aforementioned lows within the broader downtrend.
There has been a little bounce on the back of the Reuters/Michigan Consumer Sentiment Index at 91.9 vs 93.0 expected today, with a less positive outlook in respect of events leading up to Black Monday, but options volatility is calming and spot also which may imply a period of stability below 0.7200 unless there is some fundamentally positive news for the Aussie in an otherwise pro greenback environment on interest rate differentials.
AUD/USD: RBA next week
The RBA is coming up next week. AUD/USD maybe doing the work for the Bank below 0.74 and they may wish to continue to monitor the effect the price of the Aussie. The key report to look for will be the Q3 inflation report.
AUD/USD remains in negative territory
AUD/USD rallies are expected to be limited through 0.72 handle and the resistance, if penetrated, would first come as 0.7250/.7327. while below 0.7448 July 21 high and the 0.7450 55 day moving average the pair remains in negative territory and will continue to feel downward pressure, as explained earlier in the week by Karen Jones, chief analyst at Commerzbank.
The 0.72 handle gave a strong resistance on the recovery from 0.7249's downside to 0.7069. The greenback has been taking the top spot across the board, despite a wobble on euro demand in the start of the European session with stocks preforming poorly, while AUD/USD was making a high of 0.7182. We were then in supply down to aforementioned lows within the broader downtrend.
There has been a little bounce on the back of the Reuters/Michigan Consumer Sentiment Index at 91.9 vs 93.0 expected today, with a less positive outlook in respect of events leading up to Black Monday, but options volatility is calming and spot also which may imply a period of stability below 0.7200 unless there is some fundamentally positive news for the Aussie in an otherwise pro greenback environment on interest rate differentials.
AUD/USD: RBA next week
The RBA is coming up next week. AUD/USD maybe doing the work for the Bank below 0.74 and they may wish to continue to monitor the effect the price of the Aussie. The key report to look for will be the Q3 inflation report.
AUD/USD remains in negative territory
AUD/USD rallies are expected to be limited through 0.72 handle and the resistance, if penetrated, would first come as 0.7250/.7327. while below 0.7448 July 21 high and the 0.7450 55 day moving average the pair remains in negative territory and will continue to feel downward pressure, as explained earlier in the week by Karen Jones, chief analyst at Commerzbank.