Trial now
USDCAD TECHS

Pullback Considered Corrective

AUDUSD TECHS

Holding Above Recent Lows

US EURODLR OPTIONS

BLOCK, Large 3Y Midcurve Put Condor

AUSSIE
AUSSIE: AUD has ticked higher on better than expected local housing finance
data, but it has been a pretty tight session for the AUD/USD cross, with the
rate last dealing +7 pips at $0.6853, sticking to an 18 pip range.
- Last week's break and close above $0.6822, the high of Aug 8 and key
resistance, signals a trend reversal from a technical perspective. The 50-DMA at
$0.6864 provides the initial point of resistance, with any break there opening
$0.6880, the 50% retracement of the Jul 19-Aug 7 sell-off. Meanwhile, bears
target a quick move back below the aforementioned $0.6822 level, followed by
$0.6800, which would allow them to regain some poise.
- Participants have had to be cognisant of the latest round of PBoC RRR cuts,
announced Friday, and disappointing Chinese trade data released over the
weekend.
- The NAB business survey, due Tuesday, provides the highlight of this week's
local docket.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com