12 Jan 2015
AUD/USD bulls remain in control at key resistance levels on 0.82 handle
FXStreet (Guatemala) - AUD/USD is currently trading at 0.8215 and has made a high of 0.8232 and a low of 0.8202 and is up 0.12% on the day.
AUD/USD remains with a bid tone despite recent home loans data that disappointed and missed expectations. For November, the data read as -0.7 vs 2.0% expected and worse than the 0.2% previous. Moreover, there has been a general lack of commitment from the bears of late, unable to break through 0.8030 ahead of the long term double Fibonacci support at 0.7950/30.
This gives rise to buying interest and longer-term profit taking opportunities but until the pair actually closes through the 0.8225 level with conviction, we remain subject to the markets favouritism to the greenback overall with the fundamentals surrounding the divergence between the two opposing Central Banks and relevant economic fundamentals. Meanwhile, on that note, we are stuck with the recent disappointments in the lack of growth in US wages ahead of Australia's own domestic jobs data later on this week that are expected to remain in line within recent prints.
AUD/USD remains with a bid tone despite recent home loans data that disappointed and missed expectations. For November, the data read as -0.7 vs 2.0% expected and worse than the 0.2% previous. Moreover, there has been a general lack of commitment from the bears of late, unable to break through 0.8030 ahead of the long term double Fibonacci support at 0.7950/30.
This gives rise to buying interest and longer-term profit taking opportunities but until the pair actually closes through the 0.8225 level with conviction, we remain subject to the markets favouritism to the greenback overall with the fundamentals surrounding the divergence between the two opposing Central Banks and relevant economic fundamentals. Meanwhile, on that note, we are stuck with the recent disappointments in the lack of growth in US wages ahead of Australia's own domestic jobs data later on this week that are expected to remain in line within recent prints.