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19 Feb 2016
AUD/USD weak, wobbles around 0.7100
The Aussie dollar keeps the negative territory today, relegating AUD/USD to the 0.7100 neighbourhood.
AUD/USD weaker on USD strength
Spot has met increasing selling pressure following overnight comments by RBA Board member J.Edwards, who hinted that the exchange rate could be somewhat ‘overvalued’, as he expressed his preference for AUD at 0.65 vs. the dollar.
Absent releases in Oz, the attention has shifted to the US calendar, where January’s inflation figures tracked by the CPI are due later in the NA session.
AUD/USD levels to watch
At the moment the pair is down 0.60% at 0.7104 facing the next support at 0.6971 (low Feb.9) ahead of 0.6916 (low Jan.26) and finally 0.6825 (low Jan.20). On the other hand, a surpass of 0.7246 (high Feb.4) would expose 0.7282 (200-day sma) and then 0.7388 (monthly high Dec.4).
AUD/USD weaker on USD strength
Spot has met increasing selling pressure following overnight comments by RBA Board member J.Edwards, who hinted that the exchange rate could be somewhat ‘overvalued’, as he expressed his preference for AUD at 0.65 vs. the dollar.
Absent releases in Oz, the attention has shifted to the US calendar, where January’s inflation figures tracked by the CPI are due later in the NA session.
AUD/USD levels to watch
At the moment the pair is down 0.60% at 0.7104 facing the next support at 0.6971 (low Feb.9) ahead of 0.6916 (low Jan.26) and finally 0.6825 (low Jan.20). On the other hand, a surpass of 0.7246 (high Feb.4) would expose 0.7282 (200-day sma) and then 0.7388 (monthly high Dec.4).