AUD/USD on 0.72 ahead of Capex

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 24, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    AUD/USD is lined up on the 0.72 handle awaiting the key Capex data due later in the Asian session.

    The pair has managed a good recovery from the lows below the 200 sma on the hourly sticks at 0.7158. The high has been 0.7213 so far from a low of 0.7145. The greenback gave back what little gains made on poor data in the homes stats and the services PMI's missing expectation in both cases and below prior. Oil has been a supporting factor with inventories lower than what the market had been expecting.

    AUD/USD levels

    Technically, AUD/USD has rallied through the 20 sma on the hourly sticks at 0.7181 and onto the 0.72 handle, putting pressure on the 50 sma at 0.7206. This is 20 pips shy of the pivot with R1 at 0.7251, R2 at 0.7287 and R3 at 0.7312. To the downside, a break of the 200 sma at 0.7158 opens S3 at 0.7129 before recent lows of 0.7069.
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