6 Jan 2016
AUD/USD headed for Sep lows to lose 0.70 handle?
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7077 with a high of 0.7179 and a low of 0.7054.
AUD/USD dropped again overnight in Asia where all the action seems to be happening with China as a catalyst. There was a sharp devaluation of the Yuan yesterday to kick off the supply and then the Chinese Ciaxin services data was also poor igniting further bearishness in the Aussie.
AUD/USD and FOMC minutes
Today, the ADP was strong in the US with 257k vs 192k expected as a prelude for Nonfarm Payrolls at the end of the week with a number expected above 200k and Fed hikes friendly. PMI's in the US were mixed and we now await the FOMC minutes to steer the direction in AUD/USD for the time being.
AUD/USD levels
Technical readings point to the 4 month uptrend at 0.7115 was taken out and so was the 0.7098 previous low. Next stop looks at 0.7017 November low and the September low at 0.6940.
AUD/USD dropped again overnight in Asia where all the action seems to be happening with China as a catalyst. There was a sharp devaluation of the Yuan yesterday to kick off the supply and then the Chinese Ciaxin services data was also poor igniting further bearishness in the Aussie.
AUD/USD and FOMC minutes
Today, the ADP was strong in the US with 257k vs 192k expected as a prelude for Nonfarm Payrolls at the end of the week with a number expected above 200k and Fed hikes friendly. PMI's in the US were mixed and we now await the FOMC minutes to steer the direction in AUD/USD for the time being.
AUD/USD levels
Technical readings point to the 4 month uptrend at 0.7115 was taken out and so was the 0.7098 previous low. Next stop looks at 0.7017 November low and the September low at 0.6940.