Free Trial

AUD/USD drew support from the round number...>

AUSSIE
AUSSIE: AUD/USD drew support from the round number $0.7200 overnight, as the
Antipodeans faced some modest pressure, before the rate recovered to deal 10
pips or so higher just above $0.7215 last.
- Renewed USD demand kept the pair's broader downtrend intact Thursday with
bears targeting a break of the aforementioned $0.7200 level. Through here brings
the Sep 11 YTD low ($0.7085) back into play. Bulls need a close above the 55-DMA
($0.7294) to improve their short-term outlook.
- AUD traders now look to next week's RBA MonPol decision, AU trade data &
retail sales. It is also worth noting that RBA's Heath will speak next week.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.