Free Trial

AUD/USD was limited overnight and last.......>

AUSSIE
AUSSIE: AUD/USD was limited overnight and last trades just shy of $0.7345 after
the pair failed to close above $0.7350 on Tuesday, as the recovery in the DXY,
driven by a stronger than exp. U.S. consumer confidence print, saw the pair back
from its intraday high ($0.7362), meaning that the rate failed to test the
50-DMA (0.7375).
- Bulls need a close above the aforementioned 50-DMA to open up a potential
challenge of the August high ($0.7453). Conversely, a close below Monday's low
($0.7307) would allow bears to focus on the YTD low ($0.7203), which needs to
hold to prevent a potential downside acceleration.
- Tomorrow's AU CapEx release dominates the domestic docket this 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.