Free Trial

AUD/USD last trades flat at $7082, as the....>

AUSSIE
AUSSIE: AUD/USD last trades flat at $7082, as the rate managed to recover after
being pressed to session lows of $0.7066 by broader risk-off flows.
- Worth reminding that the weekend saw an electoral victory for the incumbent
Liberal-National gov't of Australia's most populous state of New South Wales.
This comes as a sigh of relief for the federal Liberal-National gov't, which is
preparing for a general election, scheduled for May.
- Bears remain focused on Friday's low of $0.7076, located 10 pips above where
the rate bottomed today. A fall through Friday's and today's lows would open up
the lower 1.0% 10-DMA envelope at $0.7020. Conversely, bulls look to the
$0.7090-93 region, which hosts the Mar 21 low, 21-DMA and 200-HMA. Above here
opens the 100-HMA at $0.7101.
- The AU economic docket is rather thin this week, with private sector credit
data due on Friday. Elsewhere, RBA's Ellis and Kent will speak tomorrow and the
day after respectively. Any fallout from the Sino-U.S. trade talks will also
provide interest, as top U.S. trade negotiators travel to Beijing this week.

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.