Out of luck Aussie bulls on poor Capex

FXStreet (Guatemala) – AUD/USD‘s resilience has been dented on the back of the Capex data coming in well below the expected bracket of between – 2.9% / -4.%.

The major commodity currency has falling free fall over 30 pips on the release as the actual number Q/Q for Q3 arrived at -9.2%. Meanwhile, while the 4th estimate of investment plans for 2015/16, with the survey conducted from Oct to early Nov arrived in line with expectations, coming in at A$120bln and against 3rd estimate of A$115bln.

The bulls hard work has all been but erased from the recovery at 0.7227 that made highs of 0.7262 leading into the data. The focus will now be over a chilled-out RBA until the February and the FOMC this December and key data leading into the the subsequent Fed’s interest rate decision.

AUD/USD downside targets

Technically, AUD/USD bears are targeting the key 100 DMA at 0.7201 with a key objective targeting the pre-Aussie jobs data news price at 0.7060 in the medium term.

AUD/USD’s resilience has been dented on the back of the Capex data coming in well below the expected bracket of – 2.9% / -4.%. The bulls hard work has all been but erased from the recovery at 0.7227 that made highs of 0.7262 leading into the data. The focus will now be over a chilled-out RBA until the February and the FOMC this December and key data leading into the the subsequent Fed’s interest rate decision.

(Market News Provided by FXstreet)