OctaFX | OctaFX Forex Broker
Open trading account
Back

AUD/USD consolidates below 0.9600

FXstreet.com (Barcelona) - The Aussie dollar continues its relentless march south on Wednesday, hovering over the mid 0.9500s after breaching the key support at 0.9600 overnight.

Data wise, New Home Sales in Australia rose 3.9% on a monthly basis in April while the Leading index sponsored by Westpac rose 0.2% during March. “Without thinking it necessary to sound the alarm as investment is not falling off a cliff, the question as to what will pick up the slack as the mining investment boom fades is increasingly live. Tomorrow’s CAPEX report will shed some (more detailed) light on this and could influence expectations for the RBA’s decision next Tuesday”, assessed Adrian Foster, Analyst at Rabobank.

The pair is now down 0.66% at 0.9553 and a violation of 0.9527 (low May 29) would expose 0.9404 (2009 peak) and then 0.9388 (low 2011). On the upside, the next resistance is at 0.9741 (high May 24) followed by 0.9778 (high May 23) and finally 0.9798 (MA10d).

Switzerland: UBS Consumption Indicator improves to 1.46 in April

The Swiss UBS Consumption Indicator grew to 1.46 in April from 1.24 registered thge previous month, according to data released today by UBS.
Read more Previous

USD/JPY 102.50/101.90 range

USD/JPY rose significantly on better consumer confidence out of the US yesterday. A 5yr high number took the pair out from the doldrums of 101.90 to 102.50 over the course of the afternoon in the European session.
Read more Next
Start livechat