Free Trial

AUDUSD last trades at 0.7715, off of lows....>

AUSSIE
AUSSIE: AUDUSD last trades at 0.7715, off of lows of 0.7706, while AUDNZD trades
at 1.0645 off of the 1.0654 high.
- Ex-Asia funds are rumoured to be the driving force behind the AUDUSD's sell
off, with option related bids in front of 0.7700, with some A$1.02bln worth of
0.7700 FX options set to roll off at today's 10AM NY cut. There is also talk of
macro sell orders between 0.7730-40.
- AUDUSD's 200-DMA (0.7815) continues to cap attempts to break higher with bulls
needing a close above the key 0.7842 level to shift attention upwards. The pair
is below the 21-DMA (0.7717), with correcting overbought studies adding weight.
Today, bulls look for a close above yesterday's hourly support level (0.7763) to
gain breathing room.
- AUDNZD's bounce from YtD lows confirmed the significance of the long term
rising daily trend line off 2015 lows (1.0474 today) with bulls now needing a
close above the 55-DMA (1.0678) to shift focus higher. Bears continue to look
for a close below the April 17 high (1.0601) to ease bullish pressure.
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.