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AUD/USD awaits the Stevens and the RBA

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - AUD/USD is awaiting the first round of key domestic data this week in the trade balance ahead of Caixin China services tomorrow. The key event for the week is the Nonfarm Payrolls, but ahead of this, we have the RBA later today.

    Stevens will be the main attraction and his commentary on the price of the Aussie, commodity levels and his outlook on inflation and any hint that the Central Bank would be prepared to act this year given the headwinds and turmoil at the turn of 2015/2016.

    AUD: RBA to stay on hold - TDS

    AUD/USD levels

    Technically, Valeria Bednarik, chief analyst at FXStreet explained that in the 4 hours chart, the price managed to hold above its 200 EMA and a bullish 20 SMA, both around 0.7060, "But the technical indicators also head nowhere, with the Momentum indicator around its 100 level and the RSI at 59. A break below the mentioned 200 EMA could see the pair extending its decline down to 0.7020, while below this last, the bearish tone is expected to accelerate in the short term pass the 0.7000 figure."
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