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27 Aug 2015
AUD/USD not out of the woods yet
FXStreet (Guatemala) - AUD/USD is currently offered at time of writing at 0.7160 with a high of 0.7181 and a low of 0.7099.
AUD/USD making minor recovery
AUD/USD has met some supply in the US shift after a valiant effort overnight when the paid rebounded from below the 0.71 handle and staged an impressive run through the mid point of the handle given the downbeat environment in global markets that have been keeping the commodity currencies on the back foot.
The initial boost came from a mixed set of Capex data that arrived lower than the expected -2.5% for Q2 and came in at -4.0%, but bounced back on the same five minute stick when it was noted that Australian firms were planning to spend AUD114.8b, which was more than the estimated AUD111b. A better risk sentiment continued to support the Aussie and commodity prices also picked up. However, the US data continues to be upbeat with GDP and initial jobless claims that have added to yesterday's positive durable goods numbers.
AUD/USD Bulls fail at key 0.7180
Technically, the two-year channel at 0.7180/60 remains a strong resistance line and below here makes the downside compelling still with 0.7120 support as first major support. The 0.7030's are the August lows ahead of the 0.7016 March 2006 lows guarding 0.7000 ahead of the 2004 June low of 0.6772 on the longer term targets.
AUD/USD making minor recovery
AUD/USD has met some supply in the US shift after a valiant effort overnight when the paid rebounded from below the 0.71 handle and staged an impressive run through the mid point of the handle given the downbeat environment in global markets that have been keeping the commodity currencies on the back foot.
The initial boost came from a mixed set of Capex data that arrived lower than the expected -2.5% for Q2 and came in at -4.0%, but bounced back on the same five minute stick when it was noted that Australian firms were planning to spend AUD114.8b, which was more than the estimated AUD111b. A better risk sentiment continued to support the Aussie and commodity prices also picked up. However, the US data continues to be upbeat with GDP and initial jobless claims that have added to yesterday's positive durable goods numbers.
AUD/USD Bulls fail at key 0.7180
Technically, the two-year channel at 0.7180/60 remains a strong resistance line and below here makes the downside compelling still with 0.7120 support as first major support. The 0.7030's are the August lows ahead of the 0.7016 March 2006 lows guarding 0.7000 ahead of the 2004 June low of 0.6772 on the longer term targets.