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  1. #1
    Legendry Member milos's Avatar

    AUDUSD touched bottom at 0.8930 !!!

    The Australian dollar fell against the US dollar because of instability arising from the currency markets in the developing countries. Forex pair AUDUSD trade recorded during the previous bottom at 0.8935 and subsequently consolidated at 0.89451. Support is likely to test the 0.8930, the low of 22 August and resistance at 0.9234 the high of 19 August. The Australian dollar was supported on the basis of weak US economic data published yesterday. Over the last few weeks, weak economic data from the United States have prompted speculation that Federal Reserve will have to abandon their plans to reduce the program of monetary easing. Indulgence has previously led to the strengthening to riskier currencies like the Australian dollar, but are now under pressure due to a noticeable reduction in risk appetite. The reason for the instability of the Australian dollar is the currency growth in emerging markets, as several world currencies avoid the effects of the program purchase. To make matter worse for the Australian currency fell below psychologically important 0.9000 areas which many traders set stop loss. In relation to the euro and the yen the Australian dollar fell but it jumped to New Zealand dollar. EURAUD jumped to 1.4910, AUDJPY dropped 87.59 and AUDNZD rose to 1.1519.

  2. #2
    Solid Member Murphy13's Avatar
    AUD/USD decline is much bigger than the decline of the other major currencies against the US dollar. I think it could be attributed mainly to the China growth problems and to the China uncertainties about the future development. This lead to strong suppression of the Aussie and it could be a long term trend. Although I am expecting short term correction and will trade Calls for now. What do you think?

  3. #3
    Legendry Member milos's Avatar
    Quote Originally Posted by Murphy13 View Post
    AUD/USD decline is much bigger than the decline of the other major currencies against the US dollar. I think it could be attributed mainly to the China growth problems and to the China uncertainties about the future development. This lead to strong suppression of the Aussie and it could be a long term trend. Although I am expecting short term correction and will trade Calls for now. What do you think?
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    The pair remains within a bearish channel.
    Key Levels
    0.901 resistance
    0.896 resistance
    0.894 last
    0.888 support
    0.844 support

  4. #4
    Legendry Member milos's Avatar
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    The Australian dollar soared against other major currencies after the release of positive Chinese economic data. Currency pair AUDUSD trade recorded during the previous peak at 0.8992 and subsequently consolidated at 0.8976. Pair was likely to find support at 0.8847 the low of 5h August.
    At the Australian currency had a positive impact of the growth of Chinese manufacturing 51.0 points from 50.3 in the previous month. Economists had forecasts growth of 50.6 points. Today it was released data that showed that the approval for the construction of new homes in Australia rose last week to 10.8% from 6.3% in the previous week while analysts had expected growth 4.0% last week. Separate report showed that the gross operating profits of Australian companies fell in the last quarter to minus 0.8% from 3.5% in the previous quarter while economist had predicted a drop of 0.7%.
    In relation to the euro, the franc and the yen, Australian dollar has strengthened. EURAUD fall to 1.4917. AUDCHF jumped to 0.8367 and AUDJPY rose to 88.93. The Australian dollar was stronger in relation to the New Zealand and Canadian dollar. AUDNZD rose to 1.1494 and AUDCAD jumped to 0.9466.

  5. #5
    Legendry Member milos's Avatar
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    The Australian dollar traded near a three-month bottom against the U.S., despite the positive data from the Australian labor market. U.S. currency supported by expectations that the Federal Reserve will soon begin narrowing of the stimulus program.

    Forex pair AUD / USD during the previous trades recorded on the bottom 0.9009, and subsequently consolidated at 0.9051. The pair was likely to find support at 0.8991 and resistance at 0.9118.

    Today published a report which showed that Australia's unemployment rate rose in November to 5.8% from 5.7% the previous month, which was in line with the forecasts of economists.

    Australia's change in employment has risen over the last month to 21,000 people after the fall of 700 in the previous month, while analysts expected an increase of 10,300 persons.



    Key levels

    0.91180 resistance
    0.89910 support

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