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AUD/USD – Aussie Slide Continues on Excellent US GDP

AUD/USD has posted losses on Tuesday, continuing the trend which started the week. The struggling Aussie has lost about 140 points since the start of the week. Early in the North American session, the pair is trading in the mid-0.85 range. On the release front, the sole Australian release was a speech from RBA Deputy Governor Philip Lowe in Sydney. We’ll get a look at Construction Work Done early on Wednesday. In the US, GDP jumped 3.9% in Q3, beating expectations. Consumer Confidence slipped to 88.7 points.

The US economic growth continues to rack up impressive numbers, posting an excellent gain of 3.9% in Q3, well above the estimate of 3.3%. This followed a gain in Q2 of 4.2%, which also beat the estimate. The other key release, Consumer Confidence, was unexpectedly soft, dropping to 88.7 points. This was well off the estimate of 95.9 points.

AUD/USD for Tuesday, November 25, 2014

AUD/USD November 25 at 15:00 GMT

AUD/USD 0.8546 H: 0.8618 L: 0.8514

 

AUD/USD Technical

S3 S2 S1 R1 R2 R3
0.8240 0.8315 0.8456 0.8550 0.8668 0.8763

 

Further levels in both directions:

 

OANDA’s Open Positions Ratio

AUD/USD ratio is pointing to gains in long positions on Tuesday. This is not consistent with the movement of the pair, as the Australian dollar continues to lose ground. The ratio has a majority of long positions, indicative of trader bias towards AUD/USD reversing its sharp slide and moving higher.

AUD/USD Fundamentals

*Key releases are highlighted in bold

*All release times are GMT

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Kenny Fisher

Kenny Fisher [4]

Market Analyst at OANDA [5]
A highly experienced financial market analyst with a focus on fundamental analysis, Kenneth Fisher’s daily commentary covers a broad range of markets including forex, equities and commodities. His work has been published in several major online financial publications including Investing.com, Seeking Alpha and FXStreet. Based in Israel, Kenny has been a MarketPulse contributor since 2012.
Kenny Fisher

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