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AUD/USD in for a quiet end to 2015?

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Currently) - AUD/USD is currently trading at 0.7288 at time of writing with a high of 0.7303 and a low of 0.7271 in early Asia.

    AUD/USD remains consolidated as we move into the graveyard shift in Asia with Japan out and most desks half manned. The price in the Aussie is robust in bullish territory on the short-term sticks, but remains bounded in a four cent range on the longer term sticks. Fundamentally, the pair awaits the New Year celebrations to clear and markets to get back to business, and that stays with the Fed, oil and the RBA with China in the background stoking the fire.

    AUD/USD levels

    Technically, we are trading around the pivotal support at 0.7283 still with the 20 DMA at 0.7243 guarding S3 at 0.7236 on the short-term sticks. RSI (14) is at 61.29 on the 4hr chart. On the upside, the 200 DMA at 0.7418 pressures from above on the wide then the 3-month uptrend at 0.7086 should be respected as well as the 0.7017 November low and the September low is at 0.6940 for the downside levels.
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