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AUD/USD below pivot ahead of RBA minutes

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    AUD/USD has started to consolidate the downside from above the 0.7590 mark and has started to look toppy.

    AUD/USD will be under the spotlight in the forthcoming sessions with the RBA minutes ahead of the jobs data later in the week. The FOMC outcome will also be one to monitor while China looks quiet in the absent of any surprises in the fix and non scheduled events. Meanwhile, there are a number of second tier US data releases before the main FOMC event, with retail sales and CPI in key focus.

    AUD/USD levels


    AUD/USD at 0.76 is a tall order being the key supporting area a year ago back in Feb 2015. 0.7531 is the pivot and we are below here now, while otherwise, the upside targets 0.7630, 0.7661 as R2 ahead of R3 at 0.7680. To the downside, the 200 dma is at 0.7248 with S3 at 0.7339.
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