AUD/USD
is currently trading at 0.7257 with a high of 0.7269 and a low of
0.7207.
AUD/USD marches forward on poor homes sales from the US, renewed
risk sentiment with the ECB likely easing further, China
cutting interest rates, although immediate impact was short lived, and metals
bouncing back overnight, albeit meeting supply again in London and the US
shift.
However, the key data for the Aussie will come in the CPI data on
Wednesday. This might show the trimmed mean CPI rise to 2.5% y/y from 2.2% and
that is offering some support to AUD/USD as well.
AUD/USD
levels
Technically, through the 200 SMA on the 1hr sticks and
subsequent bids into 0.7300 territory, we are still looking at the key upside
target of the 0.7385 Fibo retracement that is guarding the 0.7367 2014-2015
downtrend and the August high at 0.7439. To the downside, the psychological
0.7200 level could be sticky ahead of the 0.7180 breakout point that with any
daily closes below there, bears look for a continuation to test the bulls
commitments at the key psychological support of 0.7000.
AUD/USD 2015-10-26T15:30:00