FOREX

The AUD/USD looks to be under bearish pressure and the overnight bounce is likely to be seen as another selling opportunity. Major resistance looks to be between 1.0400 and 1.0440 and traders will be using these levels to initiate new shorts.

The OECD leading indicator for the grouping of 33 ´´rich´´ nations has fallen for a fourth straight month from 102.1 to 101.6 in July.

Ongoing risk aversion has caused the New Zealand Dollar to post further losses against the Greenback, and after opening yesterday just below 82 cents it continues lower throughout the onshore session.

The AUD/USD looks to be consolidating in the near term and traders will be looking to use support at 1.0580 and resistance at 1.0660 for intra-day trades. Overall, the market sentiment is neutral, with a slight bias to the upside.

In the absence of any local data on Friday the direction of the Australian Dollar was inevitably going to take its direction from offshore events.

The AUD/USD looks to be consolidating in the near term and traders will be looking to use support at 1.0580 and resistance at 1.0660 for intra-day trades. Overall, the market sentiment is neutral, with a slight bias to the upside.

The AUD/USD looks to have found some support at 1.0485 and this now sets up a move to the recent highs at 1.0780. The 1.0600/20 levels can be seen as intra-day support for short-term longs.

The US Fed Beige book suggested that the US economy expanded at a modest pace across the 12 surveyed districts. However activity levels were mixed and showed signs of weakening.

The Australian Dollar gained considerable ground yesterday following three days of consecutive losses.

The AUD/USD experienced a volatile night on the back of the SNB invention. The AUD/USD was quickly forced up into resistance at 1.0560/600 before reversing more than 200 pips. From here, the focus will remain on the down side, with a move back to 1.0570 seen as sellable. A break of 1.0485 will also be a selling opportunity.

The Australian is marginally lower this morning and is currently trading at USD1.0510 as Asian and European equity markets posted falls.

The Reserve Bank of Australia lefts it’s official benchmark interest rate unchanged yesterday at 4.75 percent, matching the expectations of the majority of investors. With such decisions marking the ninth straight month without any changes in the cash rate, Governor Glenn Stevens did go further to emphasize that financial markets in recent times have been increasingly volatile and that domestic growth prospects remain uncertain given the softer outlook of both the US and European based Economie...

The AUD/USD has now broken below 1.0600 and this changes the market’s view to bearish. With the collapse in confidence in Europe overnight, we can expect the bearish sentiment to continue. Today’s RBA decision will be crucial.

The Australian dollar suffered at early morning trade treading the range of 105.52 to 105.60 cents path against the U.S. dollar but is expected to trade higher by mid-day in anticipation of the RBA meeting to deliberate on the cash rate on Tuesday afternoon.

The AUD is lower this morning, currently trading at USD1.0515 as Asian and European equity markets posted large falls.

Asian Stocks fell for a second day yesterday after a US Jobs Report released overnight Friday triggered a negative flow-on effect to local Equity Markets.

The AUD/USD has come back to long term support at 1.0600 and the bulls will be hoping this final line holds. The market is likely to remain bullish while 1.0600 holds and this could provide a good entry level for medium-term long positions.

As expected the Australian Dollar remained relatively subdued throughout the Asian Session on Friday trading between a tight 30 basis point range

The AUD/USD has broken above resistance at 1.0720 and this should set up further gains in the pair. The pullback to 1.0720 is likely to be seen as a buying opportunity, with initial targets to 1.0765. As noted previously, there is plenty of resistance between here and 1.0800

The Australian Dollar has continued to perform well against the major currencies overnight as yesterday’s stronger than expected local data helped provide a boost for the AUD.

After an initial run lower towards 1.0660, the Aussie bounced back to life after the release of stronger-than-expected retail sales data – up 0.5 per cent following a 0.1 per cent fall in June. Shoppers came out of the woodwork in July, posting the first rise in sales in three months. The Aussie spiked to a high of 1.0720 and spent most of the Asian session above US107 cents.

The Australian Dollar has opened slightly stronger this morning, up half of one US cent, after global equity markets managed further gains.

The Australian Dollar has opened slightly stronger this morning, up half of one US cent, after global equity markets managed further gains.

The Aussie moved lower on Wednesday down to 1.0650 after private sector credit data revealed a fourth straight monthly decline.

The AUD/USD pulled back to 1.0620 before pushing higher overnight, with the Aussie helped by an interview with Chicago Fed president Charles Evans, who presented a more bearish picture of the US economy and suggested further stimulus was required. Traders will continue to focus on the upside will a pullback to 1.0635 seen as buyable.

The Australian Dollar remains firm after the release of the August FOMC Meeting’s minutes, which revealed some division, and set the scene for a very interesting September gathering.

Traders took the Aussie higher in the lead-up to yesterday’s local building approvals data, rallying to a 1.0685 intraday peak.

The AUD/USD has gained around 80 pips after breaking above resistance at 1.0600 in yesterday’s session, but it’s now run into another layer of resistance at 1.0680. We can expect more congested trade until we break above 1.0800. Traders will continue to favour the long side with a pullback toward 1.0600 seen as a chance to take new longs.

The AUD is higher this morning, currently trading at USD1.0660, as improved market sentiment and a positive night on offshore equity markets boosted the “risk on” play and in turn our local currency.