Free Trial

AUD/USD stuck to a relatively tight range....>

AUSSIE
AUSSIE: AUD/USD stuck to a relatively tight range in spite of seemingly thawing
U.S.-Sino trade relations Wednesday, and last deals virtually unchanged at
$0.7217 (limited spill over from soft NZ Tsy GDP growth projections from across
the Tasman earlier today).
- Despite comfortably holding above the 50-DMA Wednesday, recovery efforts have
stalled ahead of the broken up trendline, suggesting the recent downtrend
remains intact. Bears need a break below the 50-DMA at $0.7190 to regain
control. Bulls need a close above the 100-DMA/broken trendline at $0.7229/34 to
build on recent momentum.
- Little in the way of tier one AU risk events noted in the remainder of the
week, the RBA's Dec meeting minutes are due next Tuesday, ahead of next
Thursday's AU labour market report. Markets also eye the AU gov't MYEFO, due
Monday.
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.