FXStreet (Guatemala) – AUD/USD is currently trading at 0.7726 with a high of 0.7734 and a low of 0.7723.
A mirror image of yesterday’s price action, AUD/USD is drifting from the US session on the bid and arrives in Asia with 40 pips of gains as we await the Capex data. The greenback started off well overnight but gave a little back across the board as the US session progressed. The data event today, in Capex may offer an upside surprise which may come about due to the recent weakness in the Aussie and lower borrowing costs and lift the Aussie, as just one scenario making it easier for the RBA to hold on rates.
Technically, the break of 0.7700 was psychologically negative for the major commodity currency and brings 0.7500 closer in to focus which could act as a major support on continued supply. The EMA 100 comes at 0.7811 on the hourly sticks while RSI (14) is in neutral. “The 55 day ma and 61.8% retracement at 0.7790/94 have both been eroded and this was regarded as the break down point to the 0.7534 April low,” as explained by Karen Jones, chief analyst at Commerzbank.
(Market News Provided by FXstreet)