27 Jan 2015
AUD/USD steady tucked below the pivot of 0.7952
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7921 with a high of of 0.7926 on the handover to asia and is oscillating a tight range having made a low of 0.7913.
0.7920 is under pressure with 0.7910/05 coming in as support below that figure at the opening bearish gap that had the pair down to 0.7857 the low. the pair has climbed back along a choppy grind making a high of 0.7932 overnight.
The markets now look ahead to Wednesday that comes with Australia's CPI for the fourth quarter. Taking into account the recent surprise move from the BoC, there are nerves around forthcoming data such as this in respect to the RBA and the possibility there could be action from them also and as early as next month.
Meanwhile, levels to the downside come with a short term support line at 0.7826 and the base of a 4 month down channel at 0.7660. Karen Jones, chief analyst at Commerzbank also explained that the intraday charts are suggesting only minor recovery to 0.7950, 0.8005 will be seen ahead of further weakness.
0.7920 is under pressure with 0.7910/05 coming in as support below that figure at the opening bearish gap that had the pair down to 0.7857 the low. the pair has climbed back along a choppy grind making a high of 0.7932 overnight.
The markets now look ahead to Wednesday that comes with Australia's CPI for the fourth quarter. Taking into account the recent surprise move from the BoC, there are nerves around forthcoming data such as this in respect to the RBA and the possibility there could be action from them also and as early as next month.
Meanwhile, levels to the downside come with a short term support line at 0.7826 and the base of a 4 month down channel at 0.7660. Karen Jones, chief analyst at Commerzbank also explained that the intraday charts are suggesting only minor recovery to 0.7950, 0.8005 will be seen ahead of further weakness.