AUD/USD looks set to test September lows

The break out higher in EUR/AUD  through 1.2550 in the NY session has been further extended to  1.2630 and this is helping pile the pressure on AUD/USD bulls which is looking set to target sell stops through 1.0200.  AUD/USD Technical support below lies around  1.0180 ahead of the Sept 5 lows of 1.0165.

The break down through 80.00 in AUD/JPY is also significant and triggered a round of sell stops  and now targets the Sept 5 lows of 79.68. There’s some support tech below in the 79.30/40 bracket but likely  sell stops just below

Money markets are now apparently pricing in the odds of a further RBA cut in November at 80% and with Governor Steven’s saying  the mining boom will now peak earlier than originally expected some bank analysts are now seeing a succession of cuts down to 2.5% next year.

Let’s see what China does about itself though before getting too carried away.

Yes, Gerry… looks like i’m getting the latest AUD/USD poll dead wrong anyway…  :(    .. but i like a bit of egg on my face from time to time

7 Comments

  1. I didn’t put your choice up on the poll as I thought it was obviously wrong. I only try to put up your right choices :) So unless you gobbed off somewhere else you had no need for the mea culpa

  2. Pete, Gerry, what do you think about AUDCAD, where it can fall ? Any S/R levels ?

  3. Morning Mike, think that more of an AUD play than the CAD. Tech support at the Sept 5 lows of 1.0055, ahead of parity and then the May lows of 0.9956. To be honest it’s not a cross i follow though Mike

  4. Morning Pete, I remember some time back reading a post here analyzing AUD bullish tone mainly on FDI flows. Do you think recent developments will effect FDI flows.?? Even after the cut, AUD looks more promising that EURO zone.. isn’t it.??

  5. Thnx. And how about AUD ?

  6. I hear that in AUDUSD, it’s just all offers.. I think it will be a slow grind down. good luck all :)

  7. We should associate the NZD to AUD life :)

    Rumours about cut rate decission too.

    Long eurnzd and short nzdusd should be a good decission.

    Anyway I guess that SNB will unload the AUD NZD and CAD to get stinky CHF soon

Top

© Copyright 2014 ForexLive™  |  Advertise With Us  |  Login To Comment  |  Sitemap

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.

ADVISORY WARNING: FOREXLIVE™ provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE™ specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.