AUD/USD: was quite a ride overnight but now...

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    AUD/USD has been good two way business, unfortunately due to the Brussels tragedy, dropping from 0.7551 and recovering in full and squeezing further to surpass the initial drop zone to score a high of 0.7643 as risk appetite returned.

    Wall Street closed little changed after Brussels terror attacks

    As we move in towards Tokyo opening, the price has stabilized at 0.7615 facing a dormant calendar in Asia. We look ahead to the main events in the US that are Durable goods (Thursday 12:30 gmt), Q4 GDP (third estimate) (Friday 12:30 gmt). We then look forward to data from China's manufacturing and US nonfarm payrolls at the start of April.

    AUD/USD levels

    Valeria Bednarik, chief analyst at FXStreet explained that in the 4 hours chart, the technical picture has turned neutral, "The technical indicators have recovered from near oversold levels, but remain unable to advance beyond their mid-lines, while the price is above a flat 20 SMA. Renewed buying interest above 0.7640, will likely send the pair to fresh highs beyond the 0.7700 figure, particularly if the positive mood prevails across the financial world."
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