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25 May 2015
AUD/USD: Yellen keeps lid on ahead of Capex
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7821 with a high of 0.7833 and a low of 0.7802.
AUD/USD is consolidated while fundamentals weigh to the downside, as Yellen offered a bullish scenario for the US economy as markets closed ahead of the long weekend in the US, leaving conditions thin tonight ahead of a data packed week for the major with Durable Goods amongst a number of other key data and Capex later in the week for Australia.
"All eyes will be on services investment intentions, where for 2015/16 we look for an upgrade from last quarter’s -7% estimate to flat now, given the lower AUD and lower borrowing costs. Overall the report should buy the RBA more time to pause a 2.00%, supporting the AUD," - explained analysts at TD Securities.
Technically, 0.7500 holds the major support level as we chip away on the short-term time frame levels, resting up on the psychological 0.78 figure. EMA 50 at 0.7870 comes as first resistance ahead of EAM 200 at 0.7927 on the hourly sticks while RSI (14) has run towards oversold territory.
AUD/USD is consolidated while fundamentals weigh to the downside, as Yellen offered a bullish scenario for the US economy as markets closed ahead of the long weekend in the US, leaving conditions thin tonight ahead of a data packed week for the major with Durable Goods amongst a number of other key data and Capex later in the week for Australia.
"All eyes will be on services investment intentions, where for 2015/16 we look for an upgrade from last quarter’s -7% estimate to flat now, given the lower AUD and lower borrowing costs. Overall the report should buy the RBA more time to pause a 2.00%, supporting the AUD," - explained analysts at TD Securities.
Technically, 0.7500 holds the major support level as we chip away on the short-term time frame levels, resting up on the psychological 0.78 figure. EMA 50 at 0.7870 comes as first resistance ahead of EAM 200 at 0.7927 on the hourly sticks while RSI (14) has run towards oversold territory.