26 May 2015
AUD/USD: Bulls holding in ahead of key risk events
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7823 with a high of 0.7828 and a low of 0.7821.
AUD/USD is consolidated on a flat day with public holidays taking place overnight. The main news came along in the Grexit debate and Fed talk. Interior Minister Voutsis of Greece said that they will not be paying the IMF on the due June 5th. Meanwhile, Federal Reserve members Mester and vice chair Stanley Fischer were both talking up the idea of a rate hike this year.
The market awaits fresh impetus and this week comes with a fair bit of it. Starting overnight tonight, the US will print key data. First up, we will have the durable goods orders ahead of a series of other key data with home sales and consumer confidence and later in the week, jobless claims before consumer confidence. Meanwhile, casting minds back over the weekend, on the closing US shift, Yellen offered a bullish scenario for the US economy which is carrying the greenback while Aussie traders await the key Capex numbers.
"All eyes will be on services investment intentions, where for 2015/16 we look for an upgrade from last quarter’s -7% estimate to flat now, given the lower AUD and lower borrowing costs. Overall the report should buy the RBA more time to pause a 2.00%, supporting the AUD," - explained analysts at TD Securities.
Technically, 0.7500 comes as the major support level as we remain bid on the psychological 0.78 round figure with the hourly SAM 50 at 0.7851 ahead of 200 SMA at 0.7953 with a neutral hourly RSI (14). However, Kare jones, chef analyst at Commerzbank suggested that intraday rallies are now indicated to terminate circa 0.7935/55, guarding the 0.8160 recent high.
AUD/USD is consolidated on a flat day with public holidays taking place overnight. The main news came along in the Grexit debate and Fed talk. Interior Minister Voutsis of Greece said that they will not be paying the IMF on the due June 5th. Meanwhile, Federal Reserve members Mester and vice chair Stanley Fischer were both talking up the idea of a rate hike this year.
The market awaits fresh impetus and this week comes with a fair bit of it. Starting overnight tonight, the US will print key data. First up, we will have the durable goods orders ahead of a series of other key data with home sales and consumer confidence and later in the week, jobless claims before consumer confidence. Meanwhile, casting minds back over the weekend, on the closing US shift, Yellen offered a bullish scenario for the US economy which is carrying the greenback while Aussie traders await the key Capex numbers.
"All eyes will be on services investment intentions, where for 2015/16 we look for an upgrade from last quarter’s -7% estimate to flat now, given the lower AUD and lower borrowing costs. Overall the report should buy the RBA more time to pause a 2.00%, supporting the AUD," - explained analysts at TD Securities.
Technically, 0.7500 comes as the major support level as we remain bid on the psychological 0.78 round figure with the hourly SAM 50 at 0.7851 ahead of 200 SMA at 0.7953 with a neutral hourly RSI (14). However, Kare jones, chef analyst at Commerzbank suggested that intraday rallies are now indicated to terminate circa 0.7935/55, guarding the 0.8160 recent high.