Free Trial

AUD/USD added 13 pips overnight and last.....>

AUSSIE
AUSSIE: AUD/USD added 13 pips overnight and last deals at $0.7074, after
gyrating on the back of mixed data releases, with AU housing finance data coming
in softer than exp., alongside a firmer NAB biz. conditions/confidence print.
The pair was eventually lifted by broader risk appetite, which drew support from
reports of a tentative bipartisan agreement re: border security/gov't shutdown
being struck in the U.S. That being said, the rate now trades off its intraday
highs located at $0.7087. 
- Bulls look to the lower 1.0% 10-DMA envelope at $0.7095 and a break above
would shift their focus to $0.7145, which represents the 50-DMA. Meanwhile,
initial support is located at yesterday's low of $0.7057, ahead of the lower
1.0% 10-DMA envelope at $0.7023. 
- The Australian calendar is rather data-light this week, but RBA's Heath and
Kent will speak on Wednesday & Friday respectively, while any fallout from the
ongoing Sino-U.S. trade talks (ministerial level meetings are scheduled for
Thursday & Friday) will also be of interest.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.