AUD/USD holding steady into Europe’s open..

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Despite some weaker than expected Chinese import/ export data this morning, the pair’s continuing to defy gravity and seems content in a  1.0465-91 range so far in the Asian session.

Talk of exporter bids now sitting down in the 1.0460/70 zone  are keeping the downside intact with more down in the 1.0440/50 area, but the myriad of offers around 1.0500 and above remain a hurdle for the bulls.

There’s talk also of option barriers up at 1.0525 and 1.0550 but offers ahead lie from 1.0500/10  from importers, corporates  and murmerings of possible RBA commercial interest, along with the usual option related offers  ahead of the barrier levels.

EUR/AUD’s  slip appears to be losing momentum  after an early dip in Asia to 1.2288, and has some tech support now around 1.2260/65 where the 100 day MA comes into play at 1.2262. Initial offers seen around 1.2325/35 and 1.2345/55 (kijun line 1.2348), but the pair needs to re-challenge the  200 day MA  up at 1.2413 to turn the focus higher again.

AUD’s sitting around 1.0478 with the EUR/AUD at 1.2315


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Pete Jackson

One Comment

  1. m5 chart (exponential) 50 /200 cross over. I’ll let you know when it’s time to make the trade/ It needs to move 30-pips lower


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