14 Jul 2015
AUD/USD boosted on to 0.74 after NAB's upbeat survey
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7420 at time of writing with a high of 0.7422 and a low of 0.7386.
AUD/USD been trading heavily with a stronger greenback across the board, with a number of problematic economic scenarios facing the Australian economy, not all organic, but subsequently creating a negative outlook for the Aussie ahead. The Greek debacle gave some relief to markets and allowed some flows in to higher yielders, however the greenback was the main benefactor of that leaving the Aussie subdued and better offered from the mid point of the current handle.
Meanwhile the NAB's positive June business survey boosted AUD/USD, with a score on to the 0.74 handle and reversing the otherwise bearish conditions of overnight price action and scoring the highest leave since London's afternoon. "Firms appear to have shrugged off risks in the global economy as the business environment continued to improve into June," - from NAB’s Monthly Business Survey.
Technically, on a continuation of the recovery of the firm greenback, rallies could find initial resistance at 0.7559, being the 23.6% retracement. Further on, 0.7647 come as the short term resistance line which leaves the pair in bearish territory while changing hands below.
AUD/USD been trading heavily with a stronger greenback across the board, with a number of problematic economic scenarios facing the Australian economy, not all organic, but subsequently creating a negative outlook for the Aussie ahead. The Greek debacle gave some relief to markets and allowed some flows in to higher yielders, however the greenback was the main benefactor of that leaving the Aussie subdued and better offered from the mid point of the current handle.
Meanwhile the NAB's positive June business survey boosted AUD/USD, with a score on to the 0.74 handle and reversing the otherwise bearish conditions of overnight price action and scoring the highest leave since London's afternoon. "Firms appear to have shrugged off risks in the global economy as the business environment continued to improve into June," - from NAB’s Monthly Business Survey.
Technically, on a continuation of the recovery of the firm greenback, rallies could find initial resistance at 0.7559, being the 23.6% retracement. Further on, 0.7647 come as the short term resistance line which leaves the pair in bearish territory while changing hands below.