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Nov 19, 2015
AUD/USD: to fade or not to fade?
FXStreet (Guatemala) - AUD/USD is currently bid with a high of 0.7214 and a low of 0.7101.
AUD/USD is sticking with the better bid theme and continues to be challenging the upside after the FOMC minutes where members conveyed that a December rate hike might be appropriate and left the market with an appetite for risk.The commitment of the bears at the 0.72 handle is now coming under pressure on a follow through of the bids.
The fading opportunity mentioned through the 100 DMA could be challenged still according to analysts at UOB Group with a sustained rally to the upside although fundamentals and the divergence between the Central Banks may prove otherwise as bears focus on the Sep lows circa 0.6900.
AUD/USD is sticking with the better bid theme and continues to be challenging the upside after the FOMC minutes where members conveyed that a December rate hike might be appropriate and left the market with an appetite for risk.The commitment of the bears at the 0.72 handle is now coming under pressure on a follow through of the bids.
The fading opportunity mentioned through the 100 DMA could be challenged still according to analysts at UOB Group with a sustained rally to the upside although fundamentals and the divergence between the Central Banks may prove otherwise as bears focus on the Sep lows circa 0.6900.