25 Aug 2015
AUD/USD supply below 0.72 capping minor recovery
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7175 with a high of 0.7195 and a low of 0.7128.
AUD/USD keeps trying the upside
AUD/USD had been drifting to the downside, but has found demand in early Asia and again in the Tokyo open. Supply is present just below the 0.72 handle and has capped the bulls early performance ahead of the Shanghai composite open which should take the markets attention in a session absent of events on the calendar for Australia except for Australia's CB Leading Indicator that was released and declined to -0.2% in June from previous 0.2%.
AUD/USD downside levels
The base of the two-year channel at 0.7180/60 remains a sticky patch on the sticks which was offering some minor support in heavy volumes to the downside overnight, but has since been replenished by committed bulls. On follow through to the downside, the 0.7016 March 2006 lows sit in the firing range which guards 0.7000 ahead of the 2004 June low of 0.6772 on the longer term targets.
AUD/USD keeps trying the upside
AUD/USD had been drifting to the downside, but has found demand in early Asia and again in the Tokyo open. Supply is present just below the 0.72 handle and has capped the bulls early performance ahead of the Shanghai composite open which should take the markets attention in a session absent of events on the calendar for Australia except for Australia's CB Leading Indicator that was released and declined to -0.2% in June from previous 0.2%.
AUD/USD downside levels
The base of the two-year channel at 0.7180/60 remains a sticky patch on the sticks which was offering some minor support in heavy volumes to the downside overnight, but has since been replenished by committed bulls. On follow through to the downside, the 0.7016 March 2006 lows sit in the firing range which guards 0.7000 ahead of the 2004 June low of 0.6772 on the longer term targets.