AUD/USD recovers ahead of RBA Stevens

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    AUD/USD has recovered through the 0.71 handle and the 200 sma on the hourly chart that is located at 0.7098 having recovered back the same territory from previous supply.

    The market was heavily offered on risk-off in Europe as investors continue to run for cover, with the yen advancing to a low of 110.97 in earlier trade. There has been a recovery of risk in the US space, but the key event for the Aussie will be Stevens testifying to parliament in Asia later today. Stevens is expected to be dovish given the easing bias of Central Banks else where and look out for potential jaw boning of the Aussie.

    AUD/USD levels

    AUD/USD has been recovering, but has yet to offer a convincing run while the 55 day ma at 0.7131 and 100 dma at 0.7139 are resisting. The 20 dma at 0.7028 as spot trades just below the pivot of 0.7092. The price remains better offered below the 200 dma at 0.7311 guarding recent highs of 0.7380.
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