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21 May 2015
AUD/USD in a bearish phase below 55 DMA
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7871 with a high of 0.7875 and a low of 0.7864.
AUD/USD has been sold off and drifting to the downside below the 0.79 handle on to test the vicinity of the lows that were created on the release of the FOMC when the major was volatile around the event. The minutes were as expected with most of the members not seeing June as the month for a rate hike while their optimism remained for the economies growth outlook.
For today in Asia and domestically, Australia will release Consumer Inflation Expectation for May and there after we will have the RBA's Foreign Exchange Transaction data for April. Before these events, RBA's Assist Governor, Edey, is Speaking at the 20th Annual Cards & Payments conference 2015, Melbourne, not expected to be a market moving event mind you. Technically, AUD/USD is in a bearish phase still and will remain so below the 0.7790/86 55 DMA and 61.8% retracement. Next significant support is sighted at 0.7950 guarding next support at 0.7865.
AUD/USD has been sold off and drifting to the downside below the 0.79 handle on to test the vicinity of the lows that were created on the release of the FOMC when the major was volatile around the event. The minutes were as expected with most of the members not seeing June as the month for a rate hike while their optimism remained for the economies growth outlook.
For today in Asia and domestically, Australia will release Consumer Inflation Expectation for May and there after we will have the RBA's Foreign Exchange Transaction data for April. Before these events, RBA's Assist Governor, Edey, is Speaking at the 20th Annual Cards & Payments conference 2015, Melbourne, not expected to be a market moving event mind you. Technically, AUD/USD is in a bearish phase still and will remain so below the 0.7790/86 55 DMA and 61.8% retracement. Next significant support is sighted at 0.7950 guarding next support at 0.7865.