AUS,AUSFOREX, aussingapore foreign exchange platform ,Foreign exchange opening,Foreign exchange transaction,Online foreign exchange

 找回密码
 立即注册
搜索
热搜: 活动 交友 discuz
查看: 105|回复: 0

AUD/USD: High-octane Friday to bed down a sideways week for the Aussie

[复制链接]

551

主题

551

帖子

1707

积分

管理员

Rank: 9Rank: 9Rank: 9

积分
1707
发表于 2018-10-12 13:39:36 | 显示全部楼层 |阅读模式
The Aussie is resting at the top end of the week's range ahead of Friday's key reading of China trade data.
The US Dollar is seeing broad-market sell-off, and the AUD/USD could see a jump into fresh highs as long as Aussie traders keep the wheels on.
The AUD/USD is trading back near the week's highs at 0.7125, stuck within the current range between 0.7130 and 0.7050.

Friday sees the Aussie get a volatility boost from both home and abroad, with Home Loans data for August dropping early at 00:30 GMT, followed by China Trade Balance data without an exact release time.

Australian Home Loans in August are expected to contract from 0.4% to -0.9% with traders keeping an eye on Investment Lending for Homes for the same month, which last clocked in at a shrinking -1.3%, and continued stormy clouds from Australian housing figures could see the AUD primed for a drop on China trade figures.

China's Trade Balance numbers are likely to drop somewhere between 02:30 and 03:30 GMT, and China's Trade Balance in USD terms is expect to decline from the previous period's 27.89 billion to 19.40 billion, with annualized Imports and Exports for September both expected to decline, with Imports forecast at 15% (previous 19.9%) and Exports expected at 8.9% (previous 9.8%), and Australia's largest trading partner can expect to continue enjoying added emphasis on their knock-on effects on the Aussie.

AUD/USD levels to watch

According to FXstreet' Valeria Bednarik, the Aussie could be primed to further enjoy some softness from the Greenback: "(the) Dollar's weakness is set to persist, favoring another leg higher for the AUD/USD pair, which now trades around the 38.2% retracement of its latest daily slide. In the 4 hours chart, the 20 SMA has extended its advance below the current level, now converging with the 23.6% retracement of the mentioned slide, while technical indicators maintain their strong upward slopes, nearing weekly highs. Furthermore, the pair seems to be developing a double bottom at 0.7040 with the neckline of the figure being this week high of 0.7130. Nevertheless, a firmer recovery would be likely on a break above 0.7140, the 50% retracement of the same decline."

Support levels: 0.7085 0.7040 0.7010  

Resistance levels: 0.7140 0.7175 0.7200
Trading foreign exchange on margin carries high potential rewards but also high potential risks that may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience and risk appetite. Past performance is not indicative of future results, which can vary due to market volatility. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Any opinions, news, research, analyses, prices or other information contained on this website or linked to from this website are provided as general market commentary and do not constitute investment advice. AUSFOREX does not accept liability for any loss or damage, including any loss or profit, which may arise directly or indirectly from use of or reliance on such information.

本帖子中包含更多资源

您需要 登录 才可以下载或查看,没有帐号?立即注册

x
回复

使用道具 举报

您需要登录后才可以回帖 登录 | 立即注册

本版积分规则

aussingapore.com  

GMT+8, 2019-6-26 03:46 , Processed in 0.088035 second(s), 22 queries .

X3.2

© 2017-2018

快速回复 返回顶部 返回列表