Near-term bears are taking a breather

16 August, 2017

The Aussie bounced on Wednesday after repeated failure to clear support at 0.7818 (50% retracement of 0.7571/0.8065 upleg), as near-term bears off 0.8065 peak are taking a breather.

Recovery is so far holding below initial resistance at 0.7877 (Tuesday’s high / broken Fibo 38.2%) with thickening 4-hr cloud (spanned between 0.7900 and 0.7949) weighing on near-term action and seen capping extended upticks.

Renewed attempts lower require close below 0.7818 handle to open way for extension towards 0.7760 (Fibo 61.8% of 0.7572/0.8065).

Conversely, sustained break above 4-hr cloud will generate initial signal of higher low at 0.7807 (Tuesday’s low) and would trigger further retracement of pullback from 0.8065.


Source   Presented by Windsor Brokers
AUD drowns amid unemployment data

Forest fires and coronavirus have had a major impact on the Australian economy, and this is reflected in the data released today on unemployment...

More gloom ahead for the AUD

The Australian dollar has slumped back below the US67c mark in today's trading session as fears grow about the spread of the coronavirus which...

AUD hit lowest level in 11 years

The Australian dollar has fallen to its lowest level since 2009 as the deadly coronavirus continues to spread which is causing severe disruption...


Consumer Price Index Rises

General Australian inflation rose slightly, accelerating slightly from 0.5% in the 3rd quarter to 0.7% in the fourth quarter. Effect on AUDUSD quotes was minimal...

AUD Declines on Strong Trade Data

The Australian dollar declined after the country released trade data for September. Numbers from the Australian Bureau of Statistics...

Australian dollar rally set to end

The Australian dollar has rallied substantially over the past month, buoyed by rising commodity prices such as Iron ore, the country's biggest export...


AUD Rises Ahead of RBA Decision

The Australian dollar rose in early trading as the markets waited for the interest rates decision by the country's central bank. The bank is expected...

Aussie falls on inflation data

Both the Australian dollar and Australian stocks declined today after the country released its third-quarter inflation numbers. In the quarter...

Currency Point: All priced in for the AUD

Over the past 4 months, the AUD has consistently been at the bottom end of the G10 currencies. This slide has been driven by the market...