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11 Dec 2015
AUD/USD losing sight of the 0.73 handle
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7271 with a high of 0.7282 and a low of 0.7259.
AUD/USD bulls are flaking at the 0.73 handle and we move into the closing session in Asia on the offer as we approach the FOMC next week, despite an outstanding jobs event yesterday with economists left puzzled at the content of the data, and not for the first time.
Meanwhile, although the market has made up its mind and has started to position for a Fed hike next week having had all the data required and stacking up to make appropriate foundations for lift-off, there is still the risk that the Fed could disappoint the market and of course this would be suicidal for the greenback and upside levels through recent highs would be under threat. Weekend news could be a risk for the major with the Chinese industrial production while the RBA minutes will be monitored for a last minute event before the FOMC showdown.
AUD/USD levels
Technically, AUD/USD's downside is playing out, while options pricing are hedging the risk in mounting pressures below the 200 DMA at 0.7449 where only a break-through that would be convincing enough to pursue the bid.
On a follow through below the 0.73 handle, 0.7200 guards guards the 200 SMA on the 4hr chart at 0.7180. S3 is at 0.7166. RSI (14) is neutral while momentum has also turned flat.
AUD/USD bulls are flaking at the 0.73 handle and we move into the closing session in Asia on the offer as we approach the FOMC next week, despite an outstanding jobs event yesterday with economists left puzzled at the content of the data, and not for the first time.
Meanwhile, although the market has made up its mind and has started to position for a Fed hike next week having had all the data required and stacking up to make appropriate foundations for lift-off, there is still the risk that the Fed could disappoint the market and of course this would be suicidal for the greenback and upside levels through recent highs would be under threat. Weekend news could be a risk for the major with the Chinese industrial production while the RBA minutes will be monitored for a last minute event before the FOMC showdown.
AUD/USD levels
Technically, AUD/USD's downside is playing out, while options pricing are hedging the risk in mounting pressures below the 200 DMA at 0.7449 where only a break-through that would be convincing enough to pursue the bid.
On a follow through below the 0.73 handle, 0.7200 guards guards the 200 SMA on the 4hr chart at 0.7180. S3 is at 0.7166. RSI (14) is neutral while momentum has also turned flat.
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