10 Mar 2015
AUD/USD: Offers attracted on poor business confidence
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7665 with a high of 0.7708 and a low of 0.7661.
AUD/USD is so far pretty much unchanged on the business confidence numbers, and remains on the offer in the broader sense. the results from the data prove that perhaps the RBA has not one enough, as the confidence in the business sector has not improved, in fact fell while business conditions were unchanged at 2.
AUD/USD technically remains bearish and brings the 0.7627 in to the picture. There is very little support below there apart from the base of the 2 year down channel at 0.7528. Thereafter, we have 0.7335, and this is a 50% retracement of the move up from 2001, as noted by Karen Jones, chief analyst at Commerzbank.
AUD/USD is so far pretty much unchanged on the business confidence numbers, and remains on the offer in the broader sense. the results from the data prove that perhaps the RBA has not one enough, as the confidence in the business sector has not improved, in fact fell while business conditions were unchanged at 2.
AUD/USD technically remains bearish and brings the 0.7627 in to the picture. There is very little support below there apart from the base of the 2 year down channel at 0.7528. Thereafter, we have 0.7335, and this is a 50% retracement of the move up from 2001, as noted by Karen Jones, chief analyst at Commerzbank.