19 Aug 2015
AUD/USD steady on the Chinese fix again
FXStreet (Guatemala) - AUD/USD is currently trading 0.7341 with a high of 0.7347and a low of 0.7330.
AUD/USD is steady post the Yuan fix of the reference rate at 6.3963 vs a previous 6.3966. The markets are now starting to climates to a settled and steadier hand from the PBoC and volatility bass subsequently calmed. The Aussie has otherwise been offered this week from the 0.7380 resistance level amid broad dollar strength as we head in towards the CPI's and FOMC minutes this week.
The RBA minutes were not much of a show, with much of the same beat that has been echoed from RBA officials over the past few weeks and sessions, where markets were looking for insight into the recent commentary around the price of the Aussie but were only disappointed to read that the price will be subject to the Fed hiking rates and could get weaker as a result while the RBA remains a course of, 'wait and see', leaving policy in place unchanged for the time being.
AUD/USD bears momentum slowing up, or sell on rallies?
AUD/USD has been supported in a consolidation of the downside, with some robust price action coming in from the committed bulls of late on the recent change of wording from the RBA around the price of the Aussie.
It has has spent this past month right above the trend across the lows since Aug 13th and weekly oscillators are crossing higher vs the broader and prominent downtrend. We have now broken the May 15thy downtrend and the downside momentum has been seriously damaged.
However, Jane Foley, Senior Currency Strategist at Rabobank recommends selling the pair on occasional bullish attempts.
AUD/USD is steady post the Yuan fix of the reference rate at 6.3963 vs a previous 6.3966. The markets are now starting to climates to a settled and steadier hand from the PBoC and volatility bass subsequently calmed. The Aussie has otherwise been offered this week from the 0.7380 resistance level amid broad dollar strength as we head in towards the CPI's and FOMC minutes this week.
The RBA minutes were not much of a show, with much of the same beat that has been echoed from RBA officials over the past few weeks and sessions, where markets were looking for insight into the recent commentary around the price of the Aussie but were only disappointed to read that the price will be subject to the Fed hiking rates and could get weaker as a result while the RBA remains a course of, 'wait and see', leaving policy in place unchanged for the time being.
AUD/USD bears momentum slowing up, or sell on rallies?
AUD/USD has been supported in a consolidation of the downside, with some robust price action coming in from the committed bulls of late on the recent change of wording from the RBA around the price of the Aussie.
It has has spent this past month right above the trend across the lows since Aug 13th and weekly oscillators are crossing higher vs the broader and prominent downtrend. We have now broken the May 15thy downtrend and the downside momentum has been seriously damaged.
However, Jane Foley, Senior Currency Strategist at Rabobank recommends selling the pair on occasional bullish attempts.