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Late Rally Brings AUDUSD Above 64c, Survey Data Coming Up

AUD

AUDUSD rallied during the NY session back above 64c and finished Monday 0.4% higher. It is currently at 0.6410, close to the intraday high of 0.6415. The USD index closed down 0.2%.

  • Conditions for AUDUSD remain bearish after breaking the bear trigger last week. Initial support is at 0.6287 and resistance at 0.6399. Any short-term gains are seen as corrective.
  • AUDNZD is 0.1% lower at 1.0643 after reaching an intraday low of 1.0624. Aussie is off its lows versus the yen to be down 0.1% to 95.19. AUDEUR is up 0.6% at 0.6066 and AUDGBP +0.4% to 0.5237.
  • Equity markets were mixed following increased tensions in the Middle East. The S&P rose 0.6% but the Euro stoxx fell 0.8% and the FTSE was flat. Oil prices rallied with Brent up 4.2% to $88.16/bbl. Copper rose 0.8% but iron ore is down to just under $115/t.
  • Today October Westpac consumer confidence and the September NAB business survey are released.
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