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AUD/USD camping out at 0.73 awaiting impetus

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 29, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - A better bid AUD/USD overnight, scoring territory on the 0.73 handle, albeit capped there for now, has private sector credit on the agenda for tomorrow while at the end of the week and year we have Chinese non-manufacturing and NBS manufacturing PMI's for December.

    There was a slightly better risk tone appetite today in Europe and that followed through to the US session as well as oil bounced back off the lows. Moving over to 2016, we will await the RBA's next move at their meeting in February - to hold or to cut? Data between now and then is going to be vital and Fed speaker's comments will be scrutinised in Q1 as we try to gauge the timings of the next rate hike and how gradual they might arrive in 2016 and 2017.

    AUD/USD levels

    Technically, the 20 DMA remains at 0.7243 as a support below the pivot of 0.7263. On the upside, the 200 DMA is the key level while to the downside, below the 3-month uptrend at 0.7086, level wise, the 0.7017 November low and the September low is at 0.6940.
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