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Aussie awaits a catalyst for a move

al_dcdemo Updated 14 Giu  in #Trader's blog #Support #Resistance #AUD/USD #Fomc #Narrow Range #D1 Chart #Labour Force Report
Australian dollar's range for this week has been barely over 50 pips with the main action in other currencies. Nevertheless, narrow ranges are almost always followed with a breakout to the either side and FOMC meeting on Wednesday or Aussie labour force report on Thursday could be the catalysts.
The pair is trading near the trendline drawn off of 2001 and 2008 lows and just below 100 DMA. 50 DMA, approaching from above, is the next resistance. Stronger support is about 100 pips below and compris…
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Aussie faces strong resistance

al_dcdemo Updated 19 Feb  in #Trader's blog #Support #Resistance #AUD/USD #Pullback #D1 Chart #Labour Force Report
Aussie is finding resistance ahead of 0.72 - 0.725 really difficult to overcome. Weaker than expected labour force report didn't do it much harm as it was essentially an expected pullback after exceptional Q4.
50 DMA is the level to watch on the downside before 0.70. Aforementioned 0.72 - 0.725 resistance band is reinforced by the September - December trendline and 200 DMA.
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Nihad avatar
Nihad 19 Feb

Interesting as usual, the last 6809 was the terminal shakeout, and your particular notice of its resilience to break upon very bearish employment release and China's CPI an hour later, is typical buying test the Aussie outperformed in. The underlying strength of Aussie is Gold, with an interest differential of >2.5% with the Swiss Franc,  with today's Equity funds run of outflows the longest since 2008, makes AUD and ZAR on the telescope. The Crisis, (probably the banking sector) already happened, but not publicized until the Big Accounts reposition quietly, next week is decisive.

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al_dcdemo 22 Feb

I'm also of the view that the pair will be visiting 0.75 soon. 0.775 - 0.80 will be much bigger hurdle though - RBA may use all tools at their disposal to defend that level. We'll see what the new governor has up his sleeve.

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