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AUD/USD bulls squeezed and re-loaded again

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    AUD/USD is currently trading at 0.7162 with a high of 0.7186 and low of 0.7134. AUD/USD has been the pair of the session in respect that all of the data out is a direct influence on the price.

    We have had the jobs data for Australian that was disappointing in a big way, snapping the running streak of 2015 and it will be a concern for Stevens who has parked most of the RBA's chips on the sector in hope that it will support growth in the Australian economy against the odds in the face of global deflationary headwinds.

    See here for full jobs data

    The fix was set the Yuan higher today, with the mid point at 6.5152 while at the same time the PBoC injected 80bn into the economy.

    The Aussie was supported on this as well as the pre-market indications that showed the Shanghai composite to open up 0.5%. Chinese CPI's were a miss Y/Y at 1.8% vs 1.9% for the month of January, and PPi's was -5.3% vs -5.4% expected as a slight compromise in the data year on year for January.

    AUD/USD levels

    AUD/USD bears target the 200 sma on the hourly chart at 0.7102 below the cluster of ma's and 100 sma on the same time frame. Thereafter, the recent lows of 0.7064 is next on the list before exposing 0.6980 that is positioned below S3 at 0.7007. On the upside, 0.7180 is ahead of 0.7220 and 2016 high of 0.7242.
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