OctaFX | OctaFX Forex Broker
Open trading account
Back

AUD/USD remains capped by 0.7150 area

FXStreet (Córdoba) - AUD/USD managed to resume the advance on Friday and retested post Australian employment data highs, but once again faced resistance at the 0.7150 area.

The Australian dollar was supported by a broad recovery in commodities, and it is on track to post its third daily gain in a row, although the 0.7150 area continues to offer resistance. At time of writing, the pair is trading at 0.7140, 0.22% above its opening price, as market focus now turns to US retail sales and producer price index data.

AUD/USD technical levels

As for technical levels, if AUD/USD breaks decisively above 0.7153 (Nov 12 & 13 high/21-day SMA), next resistances could be found at 0.7223 (Nov 4 high) and 0.7236 (100-day SMA). On the other hand, supports are seen at 0.7119 (Nov 13 low), 0.7059 (Nov 12 low) and 0.7015 (Nov 10 low).

QE is an adequate but not perfect substitute for monetary policy- BOC’s Wilkins

The Bank of Canada senior deputy governor Caroline Wilkins was on the wires today stating the QE is an adequate, but not perfect substitute for monetary policy when the interest rate cannot go lower.
Read more Previous

United States Retail Sales (MoM) came in at 0.1% below forecasts (0.3%) in October

United States Retail Sales (MoM) came in at 0.1% below forecasts (0.3%) in October
Read more Next
Start livechat