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AUDUSD Holds Above 63c, Trade Data Coming Up

AUD

Aussie recovered some of Tuesday’s losses yesterday as the greenback finished lower (USD index -0.2%).It held above 63c during European/NY trading and reached a high of 0.6343 but is currently trading lower at 0.6328.

  • The break of the bear trigger at 0.6331 opens up 0.6215, a Fibonacci projection. Initial support is at 0.6287 while resistance is 0.6410.
  • AUDNZD has been trading around 1.07 during the NY session and is currently at 1.0702. Earlier it reached a high of 1.0723. AUDJPY is 0.4% higher at 94.30. AUDEUR is flat at 0.6023 and AUDGBP is down 0.1% to 0.5210 as the pound outperformed the G10.
  • Equity markets were mixed with the S&P up 0.8%, the Euro stoxx +0.1% but the FTSE down 0.8%. VIX was over a percent lower at 18.6%. Oil fell sharply with Brent down 5.4% to $86.06/bbl. Copper is down 1.2% and iron ore is around $117.70/t.
  • Today August trade data print and the surplus is expected to widen slightly.
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