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AUD/USD consolidates above 0.7300, headed for a yearly loss

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 31, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - AUD/USD has edged higher on Thursday despite weakness in commodities, with the aussie trading at 3-week highs above 0.7300 in thin trading ahead of the New Year holiday.

    AUD/USD has been slowly recovering ground over the last days, having risen six out of the last nine trading days, to reach a high of 0.7327, last seen Dec 10. The AUD has retreated slightly from highs, but with the downside contained by 0.7300 the pair has been confined to phase of consolidation. At time of writing, AUD/USD is trading at 0.7313, 0.38% above its opening price.

    AUD/USD is on track to close December with a mild gain but still headed to post a 9.5% yearly loss, the third in a row as Fed rate hike weighed on commodities and linked currencies all through the year.
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