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AUD/USD: big week of AUD/USD traders

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - AUD/USD is currently trading at 0.7246 with a high of 0.7253 and a low of 0.7235.

    AUD/USD has a better bid tone to the pair post the China cut and since the Aussie CPI's are tipped to be bullish while markets set back bets for a rate hike this month from the Fed.The key data is the CPI's this week, this might show the trimmed mean CPI rise to 2.5% y/y from 2.2%.

    AUD/USD levels

    Technically, the 200 SMA on the 1hr sticks at 0.7552 is a key target in the near term. Meanwhile, the 0.7385 Fibo retracement is pinnacle and this would be last stop for the 2014-2015 downtrend and the August high at 0.7439.

    On the downside, the psychological 0.7200 level will hold off some supply until a push for the 0.7180/90 breakout point. Below there targets key psychological support of 0.7000.
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