FXStreet (Guatemala) – AUD/USD is currently trading at 0.7721 with high of 0.7798 and a low of 0.7720.
AUD/USD is facing the bears at the start of the week, taken down in a continuation away from the 0.78 handle, and psychological level, the price action is mainly in the red. The Aussie has come under selling pressure and is in supply regardless of last week’s dovish FOMC statement with the Fed’s funding rate forecasts for 2016 and 2017 that were revised down by 25 basis points each. The Aussie is under threat from RBA officials sighting the currency as too strong still. RBA Board member Edwards recently said “AUD is still too high”. Data wise, we await HSBC Chinese Manufacturing PMI‘s are up after Aussie home sales tomorrow.
AUD/USD technically neutral
Karen Jones, chief analyst at Commerzbank explained that 0.7800/18 is the 38.2% retracement and early June high. “A close above here will suggest that the market has temporarily based for now and allow for a rally towards the 0.7947, the 61.8% retracement and again introduce scope for recovery towards the 200 day ma at 0.8124.”
(Market News Provided by FXstreet)