Having enjoyed a solid run up since the beginning of June, The AUD / USD is starting to show signs of tiring and easing off considerably.Â Throughout this period, its retracements have been in the order of approximately 2 cents however the present sell off has moved a little further.Â The break through the 1.04 level was the telling blow as it is now meeting reasonable resistance there.Â (Daily chart below)
|Aug 29 at 04:45 GMT|
|1.0358/59||H: 1.0389||L: 1.03496|
- During the hours of the Asian trading session on Wednesday, the AUD / USD has eased off a little from its earlier highs towards 1.0390.
- Short term, the 1.0350 level is likely to offer some support and the 1.0300 level is likely to offer support beyond that.
- Current range: Staying below 1.0400.Â Is the AUD / USD ride over?
Further levels in both directions:
- Below: 1.0350, 1.0300, and 1.0200.
- Above: 1.0400, 1.0550 and 1.0600.
- AU 1:30 (GMT) Construction Work Done (Q2)
- CA 12:30 (GMT) Industrial product price index (Jul)
- CA 12:30 (GMT) Raw Materials Price Index (Jul)
- US 12:30 (GMT) Core PCE Price Index (Prelim.) (Q2)
- US 12:30 (GMT) GDP Annualised (Prelim.) (Q2)
- US 14:00 (GMT) Pending Home Sales (Jul)
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