18 Aug 2015
AUD/USD unnerved post RBA minutes
FXStreet (Guatemala) - AUD/USD is currently trading 0.7378 with a high of 0.7384 and a low of 0.7363.
AUD/USD downside opened up by 10 pips in Asia following the release of the RBA minutes where markets were looking for further insight in to the RBA's position on the price of the Aussie. The RBA minutes noted that the dollar could appreciate higher vs the Aussie when the Fed hikes. Moments after the drop, the Aussie caught demand at 0.7368 and is oscillating between the highs and lows of the 5-minute sticks post the release of the minutes.
AUD/USD downtrend under threat
Technically, AUD/USD has spent a month right above the trend across the lows since Aug 13th and weekly oscillators are crossing higher vs the broader and prominent downtrend. The market has, however, broken the May 15thy downtrend and the downside momentum has been seriously damaged. AUD/USD is currently trading 0.7378 with a high of 0.7384 and a low of 0.7363.
AUD/USD downside opened up by 10 pips in Asia following the release of the RBA minutes where markets were looking for further insight in to the RBA's position on the price of the Aussie. The RBA minutes noted that the dollar could appreciate higher vs the Aussie when the Fed hikes. Moments after the drop, the Aussie caught demand at 0.7368 and is oscillating between the highs and lows of the 5-minute sticks post the release of the minutes.
AUD/USD downtrend under threat
Technically, AUD/USD has spent a month right above the trend across the lows since Aug 13th and weekly oscillators are crossing higher vs the broader and prominent downtrend. The market has, however, broken the May 15thy downtrend and the downside momentum has been seriously damaged. AUD/USD is currently trading 0.7378 with a high of 0.7384 and a low of 0.7363.