OctaFX | OctaFX Forex Broker
Open trading account

AUD/USD drifting lower on 0.87 handle

FXStreet (Barcelona) - AUD/USD is trading at 0.8740 and drifting lower while NAB business confidence came in at lowest level since Australian pre-election.

Australia's NAB business confidence arrived read at 5 vs 8 previous, with NAB business conditions coming in at 1 vs 4 last. Meanwhle, the sentiment around the local currency is one that is being steered by the RBA. Governor Stevens was repeating last week that the value of the AUD “remains high by historical standards” and that “it is offering less assistance than would normally be expected in achieving balanced growth in the economy”, explained
Jane Foley, Senior Currency Strategist at Rabobank International.

AUD/USD noteworthy levels

Current price is 0.8740, with resistance ahead at 0.8763 (Hourly 200 SMA), 0.8781 (Hourly 100 SMA) and 0.8826 (Daily Classic R2). Next support to the downside can be found at 0.8718 (Daily Classic PP) and 0.8686.

NAB business confidence at lowest level since Australian pre-election

Australia's NAB business confidence (Sep) came at 5 vs 8 last, with NAB business conditions (Sep) at 1 vs 4 last.
Read more Previous

AUD/NZD: Holds above 1.11, key daily MAs

AUD/NZD has barely blink, currently at 1.1117, after the NAB business confidence/conditions report, which saw both indicators coming below last month's readings.
Read more Next
Start livechat