13 Jan 2015
AUD/USD consolidated awaiting jobs data this week
FXStreet (Guatemala) - AUD/USD is trading at 0.8164 and is in a phase of consolidation having been pushed below the 0.8180 support with a drift back to the upside away for the 0.8130 lows.
There has been little in the way of data although from yesterday, the trade data from China's exports were up to to 9.7% vs 4.7% a month ago supporting the Aussie. However, commodities have continued to weigh with oil leading the way on that, down to new 5.5 year lows in crude amid speculation that U.S. stockpiles will increase.
We now look ahead to the Australian employment flows tomorrow while the targets on any further upside on a decent jobs report will need to break the 0.82 handle at least before territory towards the October / January downtrends ceiling at the 50DMA and 0.8370 level are placed.
There has been little in the way of data although from yesterday, the trade data from China's exports were up to to 9.7% vs 4.7% a month ago supporting the Aussie. However, commodities have continued to weigh with oil leading the way on that, down to new 5.5 year lows in crude amid speculation that U.S. stockpiles will increase.
We now look ahead to the Australian employment flows tomorrow while the targets on any further upside on a decent jobs report will need to break the 0.82 handle at least before territory towards the October / January downtrends ceiling at the 50DMA and 0.8370 level are placed.