AUD/USD settled below 0.72 and awaiting impetus

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 21, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - AUD/USD is currently trading at 0.7188 with a high of 0.7195 and a low of 0.7155 in early Asia following a lackluster session in the US session in holiday markets.

    There is very little to go with today and instead attentions turn to the US data later on in the week with GDP Q3 and PCE as well as durable goods. However, there are going to be very few desks around to act on the data and instead we reflect back on the year and look ahead to 2016.

    Last Friday, FXStreet hosted a special event about what 2016 might hold for the Forex traders. The panelists were Ashraf Laidi, Boris Schlossberg, Adam Button and Valeria Bednarik. Today, we want to share with you the recording of the whole show. Watch now and look out for AUD/USD as a buy above 0.7000 while, on the other hand, can the Aussie jobs data be trusted and has Australia simply not seen or felt the worst of the headwinds from China?

    AUD/USD levels

    The 1 hour chart shows that the price has managed to advance above its 20 SMA, while the technical indicators hold above their mid-lines, showing no actual directional strength. In the 4 hours chart, the price is above a bearish 20 SMA and below the 200 EMA, while the Momentum indicator heads sharply higher above its 100 level, rather reflecting the intraday advance than suggesting further gains. At this point, the pair needs to advance beyond the 0.7240 level to confirm a more sustainable rally during the upcoming sessions.
    For more information, read our latest forex news.

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