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AUD/USD sidelined below 0.7200

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The Aussie dollar keeps the trade below the 0.7200 handle vs. the greenback, with AUD/USD meandering around 0.7175/70.

    AUD/USD weaker post-CapEx

    A softer tone from Chinese equities plus a mixed reading from the always relevant CapEx in Oz has plotted against any recovery attempt in the pair, which is now retreating for the third consecutive session albeit supported in the boundaries of the 100-day sma at 0.7156.

    Next on tap will be the US calendar, where the usual weekly report on the labour market is due followed by Durable Goods Orders and speeches by Fed’s Lockhart and Williams.

    AUD/USD levels to watch

    At the moment the pair is losing 0.40% at 0.7173 facing the next hurdle at 0.7246 (high Feb.4) followed by 0.7267 (200-day sma) and then 0.7388 (monthly high Dec.4). On the flip side, a break below 0.7116 (55-day sma) would aim for 0.6971 (low Feb.9) and finally 0.6916 (low Jan.26).
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