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AUD/USD: eyes 0.7220 and 200 dma

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    AUD/USD remains in positive territory above the 200 sma on the hourly chart down at 0.7164 and is trading above the pivot.

    Yesterday, the Capex data was mixed, and the Aussie suffered on the back of the details, although the headline was better looking. The poor background details in the outlook for future investment in 2016/17 was to blame for the drop. Despite today's positive durable goods outcome, the Aussie is resilient in a better risk mood as we head towards the end of this week.

    AUD/USD levels

    On a break back to the upside, 0.7220 is key, then the 200 dma (0.7271) with daily closes opens-up the December highs of 0.7327, the 30th Dec and 0.7385 on the 3rd Dec. The key objective for the bears is a break of the 0.70 handle. The 200 sma on the hourly at 0.7164 has been supporting dips this week.
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