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Doji Candlestick

AUD

AUD/USD halted a three-day winning streak Thursday, as the rate struggled to hold onto its initial gains, charting a virtual Doji candlestick at the end of the day. U.S. matters remained in the driving seat, as participants digested the most recent round of Fedspeak and local inflation data.

  • The rate trades flat at $0.7282, with bears looking for a retreat past Jan 7 low of $0.7130, before taking aim at Dec 20 low of $0.7082. Conversely, a jump above Jan 13 high of $0.7314 would expose $0.7371, which limited gains on Nov 15.
  • Australian Covid-19 headlines continue to dominate domestic news flow, albeit without provoking any tangible market reaction. NSW Premier Perrottet said that hospitals are coping with the upsurge in infections better than expected.
  • Monthly housing finance data headlines the local data docket today. Looking further afield, next week's calendar features Westpac Consumer Confidence (Wednesday) as well as labour market data & consumer inflation expectations (Thursday).
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