OctaFX | OctaFX Forex Broker
Open trading account

AUD/USD recovers to 0.8770

FXStreet (Edinburgh) - The Aussie dollar keeps the upper band of the range on Friday, with AUD/USD hovering over the 0.8770 neighbourhood.

AUD/USD supported at 0.8720

Spot is extending the recovery from intraday troughs around 0.8720 on Friday, following the better sentiment from the risk-associated universe and some selling interest now hurting the greenback. A second-tier calendar in Oz awaits traders next week, thus diverting the attention and the search for catalysts to events and developments overseas. Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested, “Beyond this near term rebound we remain negative and look for a retest of support circa .8660/43 and continue to target the .8550 50% retracement of the move from 2009”.

AUD/USD relevant levels

As of writing the pair is advancing 0.11% at 0.8771 and a surpass of 0.8813 (high Sep.26) would open the door to 0.8885 (high Sep.25) and then 0.8897 (high Sep.24). On the flip side, the initial support lines up at 0.8663 (low Oct.1) ahead of 0.8660 (low Jan.24) and finally the psychological handle at 0.8500.

UK Q3 GDP growth is likely to slow modestly - ING

James Knightley from ING suggests that the UK Q3 GDP data, due out soon, should reveal that the country's economy expanded for the seventh running quarter.
Read more Previous

FTSE awaits GDP data

The UK equity markets are trading marginally lower as the investors await UK Q3 GDP data.
Read more Next
Start livechat