Key PointsThe Aussie dollar traded with a positive bias recently and currently positioned above the 0.7660 support area against the US Dollar. There is a major contracting triangle pattern with resistance at 0.7705 formed on the hourly chart of AUDUSD. Today in Australia, the Private Capital Expenditure for Q4 2016 was released by the Australian Bureau of Statistics. The result was a bit lower than the forecast, as there was a decline of 2.1% in Q4 2016, compared with the -1% forecast. AUDUSD Technical Analysis
The Aussie dollar recently recovered from the 0.7655 low against the US Dollar, and moved above the 21 hourly simple moving average. It looks like the AUDUSD pair [...]
Key PointsThe Aussie dollar recently corrected from the 0.7220 low against the US Dollar, but failed near 0.7270. There was a bullish trend line formed on the hourly chart of AUDUSD, which was broken recently at 0.7257, signaling a correction completion. In Australia today, the Westpac Leading Index was released by the Melbourne Institute. The result was on the lower side, as there was no change in the index in Nov 2016. AUDUSD Technical Analysis
The Aussie dollar was seen trading higher as a part of a recovery from the 0.7220 low against the US Dollar. However, the recovery was completed near the 50% Fib retracement level of the last decline from the 0.7313 [...]
Key HighlightsThe Australian Dollar (AUD) is showing strong signs of moving higher as a results of the Improved Policy Outlook. In the future however, there is a risk of Aversion Threat in case the Euro group Miss the mark on Greek Funding Deal.
The AUD has been on a recovery mission since early April this year. It has continually gained grounds over the somehow reluctant USD. In April a recovery was launched so as to save the AUD which had seen a decline.
Looking at past four years of the AUDUSD activities, you will notice that the currency pair had been on a down ward trend. However after the release of last week’s monetary policy announcement, the currency has [...]
Key Takeaways – AUDUSD AnalysisAUDUSD climbed higher recently after the employment report in Australia was better than expected. Australian Employment Change published by the Australian Bureau of Statistics came in at 37.7K in March 2015. Australian unemployment rate decreased to 6.1%, compared to forecast of 6.3%.
Australian Employment Report
Earlier today in Australia, the Employment Change suggesting the change in the number of employed people in Australia was published by the Australian Bureau of Statistics. The forecast was of a gain of 15.0K in March 2015 seasonally adjusted. The report was however positive, as the Australian employment change posted a [...]