Free Trial

AUD/USD fails to hold above the 200-DMA......>

AUSSIE
AUSSIE: AUD/USD fails to hold above the 200-DMA ($0.6904), peaking at $0.6906,
with Friday's high ($0.6907) keeping a lid on the rate, before fading back below
$0.6900, last printing at a near neutral $0.6898. Local private sector credit
data provided little to go off for participants. Missing exp. by 0.1pp in both
M/M & Y/Y terms.
- Levels previously outlined provide immediate resistance, with any break above
set to switch bulls' focus to the Dec 13 high/key resistance at $0.6939. Key
intraday support seen at the Dec 17 low of $0.6838.
- AUD has drawn some support from the unwind of RBA cut pricing in the IB strip
over the past couple of sessions (outlined elsewhere).
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.