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AUD/USD: a concern with key failures - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - AUD/USD is exhibiting a considerable vulnerability to broader market sentiment with a specific focus on China as market participants assess the path for growth and potential for further stimulus, as noted by Eric Theoret, CFA, CMT FX Strategist at Scotiabank.

    See here for recent news on AUD/USD.

    Key Quotes:

    "Near term risk for AUD lies with domestic employment at 8:30pm EST"

    "AUD is vulnerable, both fundamentally and technically, as we consider the recent completion of a bearish three-candle ‘evening star’ formation between Friday and Tuesday."

    "The recent rally’s failure at (and subsequent retreat from) the 100 day MA (0.7360) provides for added concern."
    For more information, read our latest forex news.
     

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