20 Feb 2015
AUD/USD: Kept below the 0.78 handle into the closing session
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7790 with a high of 0.7844 and low of 0.7755.
AUD/USD has been choppy within a 55 pip range and capped at 0.7810 on the upside riding the bearishness from 0.7841 of yesterday's business. Today, in the US session the greenback was on form across the board and the Aussie, despite there being data that was conflicting in respect of jobless claims better than expected and the Philly fed manufacturing that offered a dire picture and missed expectations by some margin.
However, the FOMC minutes have now been digested ahead of Yellen next week, and for the most part, markets are still looking for the possibility of a hike in June with the door left open by a data dependant Fed. Meanwhile, the RBA was less dovish of late, as expected, although the divergences between the two banks remain compelling nevertheless. Technically and fundamentally, the pair trades with a bearish bias with the 0.7750 level acting as the key support. There after, another key area of support comes as 0.7597 ahead of the 0.7335, 50% retracement of the move up from 2001.
AUD/USD has been choppy within a 55 pip range and capped at 0.7810 on the upside riding the bearishness from 0.7841 of yesterday's business. Today, in the US session the greenback was on form across the board and the Aussie, despite there being data that was conflicting in respect of jobless claims better than expected and the Philly fed manufacturing that offered a dire picture and missed expectations by some margin.
However, the FOMC minutes have now been digested ahead of Yellen next week, and for the most part, markets are still looking for the possibility of a hike in June with the door left open by a data dependant Fed. Meanwhile, the RBA was less dovish of late, as expected, although the divergences between the two banks remain compelling nevertheless. Technically and fundamentally, the pair trades with a bearish bias with the 0.7750 level acting as the key support. There after, another key area of support comes as 0.7597 ahead of the 0.7335, 50% retracement of the move up from 2001.