27 May 2015
AUD/USD dropping away to the downside
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7747 with a high of 0.7750 and a low of 0.7727.
AUD/USD has been on a drift and slightly bid since the late afternoon of the US session although there has been a little supply taking the major 20 pips lower. We have little to work with until tomorrows Capex data which may offer a boost to the currency on any upside surprises, which may come about due to the recent weakness in the Aussie and lower borrowing costs.
RBA Deputy Governor Lowe's Speech didn't include anything on monetary policy or the Aussie dollar so was a non event while overnight data form the US, that included durable goods, were bullish and have been supporting the greenback. Technically, 0.7500 continues to come in as the major support zone through the congestion on the way down from here with SMA 50 on the hourly acting as a resistance level, now at 0.7811.
AUD/USD has been on a drift and slightly bid since the late afternoon of the US session although there has been a little supply taking the major 20 pips lower. We have little to work with until tomorrows Capex data which may offer a boost to the currency on any upside surprises, which may come about due to the recent weakness in the Aussie and lower borrowing costs.
RBA Deputy Governor Lowe's Speech didn't include anything on monetary policy or the Aussie dollar so was a non event while overnight data form the US, that included durable goods, were bullish and have been supporting the greenback. Technically, 0.7500 continues to come in as the major support zone through the congestion on the way down from here with SMA 50 on the hourly acting as a resistance level, now at 0.7811.