22 Jun 2015
AUD/USD downside risks on Greece
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7777 with high of 0.7790 and a low of 0.7759.
AUD/USD struggles above the pivot while RBA Board member Edwards recently said AUD is still too high. Meanwhile, there is very little at the start of this week to run with except the main headlines that will focus on Greece as well as the continued downside risks to the greenback post the recently dovishly presented statement from the FOMC. HSBC Chinese Manufacturing PMI's are up after Aussie home sales tomorrow.
However, immediate risks come in the possibility of a lack of liquidity into Eurozone assets while safe havens could become the game play, leaving the Aussie exposed to the downside in a potential risk-off environment as the day and week ahead unfolds in the Eurozone dramas.
Greek crunch time
There is an emergency summit on Greece in Europe today as the Eurogroup gets together ahead of the EU's Leaders meeting in the evening there. Meanwhile, and over the weekend, new or additional proposals have been reported as prepared by Athens and Greek PM Tsipras has been scheduled to meet with Eurogroup heads to discuss last suggested proposals for a deal.
AUD/USD technically neutral
AUD/USD dips could find support at 0.7720 ahead of 0.7646 but bears are lurking below the 0.78 handle which leaves these levels exposed to continued selling pressure. A break above 0.7820 would be bullish exposing last week's and June's highs of 0.7847.
AUD/USD struggles above the pivot while RBA Board member Edwards recently said AUD is still too high. Meanwhile, there is very little at the start of this week to run with except the main headlines that will focus on Greece as well as the continued downside risks to the greenback post the recently dovishly presented statement from the FOMC. HSBC Chinese Manufacturing PMI's are up after Aussie home sales tomorrow.
However, immediate risks come in the possibility of a lack of liquidity into Eurozone assets while safe havens could become the game play, leaving the Aussie exposed to the downside in a potential risk-off environment as the day and week ahead unfolds in the Eurozone dramas.
Greek crunch time
There is an emergency summit on Greece in Europe today as the Eurogroup gets together ahead of the EU's Leaders meeting in the evening there. Meanwhile, and over the weekend, new or additional proposals have been reported as prepared by Athens and Greek PM Tsipras has been scheduled to meet with Eurogroup heads to discuss last suggested proposals for a deal.
AUD/USD technically neutral
AUD/USD dips could find support at 0.7720 ahead of 0.7646 but bears are lurking below the 0.78 handle which leaves these levels exposed to continued selling pressure. A break above 0.7820 would be bullish exposing last week's and June's highs of 0.7847.