OctaFX | OctaFX Forex Broker
Open trading account

AUD/USD: bulls taking back control

FXStreet (Guatemala) - AUD/USD is currently trading at 0.7138 with a high of 0.7142 and a low of 0.7112.

AUD/USD is currently better bid on the back of a positive recovery of the bearish gap instigated on the back of Chinese manufacturing miss below the 50 mark and in contraction territory. In the Australian economy, we have had a positive start with data beating expectations with building permits m/m 2.2% vs 1.1% expected and -9.5% previous while y/y came in at 21.45 vs 5.1% expected. We now await Caixan Manufacturing y/y expected to also be in contraction at 47.5.

AUD/USD levels

Technically, 0.7100 is key psychological support ahead of 0.7050/80 that guards the downside to 0.7000. The September lows are located at 0.6940 ahead of 0.6900. To the upside, the 0.7385 Fibo retracement level needs to be broken in order alleviate downside pressures. Near term upside levels target 0.7162, 0.7190 200 SMA and 0.7211.

RBNZ: Chance of a cut in December 30% - ANZ

ANZ is presently out of consensus in expecting the RBNZ to cut rates in December, noting the Central Bank is set to go through a period on the side-lines, expected to last into 2016, with the chance of a cut in December assigning odds of 30%.
Read more Previous

EUR/JPY: downside favored - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that EUR/JPY closed the day in the red, as the Japanese Yen got an early boost from BOJ's decision to leave rates on-hold.
Read more Next
Start livechat