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23 Feb 2015
AUD/USD: Capped again at 0.7810
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7796 with a high of 0.7849 and a low of 0.7779.
AUD/USD has stalled on the downside and is consolidating on the longer term time frames. 0.7625 stands as the low (2nd Feb) while the 0.78 handle contains the upside and leaves the pair in a sideways channel, and again attempts are stalling at 0.7810 today. Above here and on to 0.7875 would signal "scope for short-term gains", explained analysts at TD Securities.
The RBA has left the doors open for further easing and continues to sight the Aussie as overvalued on a number of fundamental scalings which weighs on the pair. However, this week is key with Yellen speaking so markets will be sidetracked by this event and focus will remain on the US economy, dictating the pairs direction for now. Down the line, we have Private Capital Expenditure (Q4) this week for the Australian economy head of Homes sales on the calendar.
AUD/USD has stalled on the downside and is consolidating on the longer term time frames. 0.7625 stands as the low (2nd Feb) while the 0.78 handle contains the upside and leaves the pair in a sideways channel, and again attempts are stalling at 0.7810 today. Above here and on to 0.7875 would signal "scope for short-term gains", explained analysts at TD Securities.
The RBA has left the doors open for further easing and continues to sight the Aussie as overvalued on a number of fundamental scalings which weighs on the pair. However, this week is key with Yellen speaking so markets will be sidetracked by this event and focus will remain on the US economy, dictating the pairs direction for now. Down the line, we have Private Capital Expenditure (Q4) this week for the Australian economy head of Homes sales on the calendar.