Capital Trust
Capital Trust

Dec 10, 2016

10:13 PM EDT

  • New York close
  • London close
  • Tokyo open
  • Sydney open
Market Analysis

Home » Featured » AUDUSD Eyeing More Gains?

AUDUSD Eyeing More Gains?

Posted by FXTimes in Featured - January 28th, 2016 12:48 pm GMT

Aussie dollar AUDNZD

Key Points

  • Aussie Dollar is trading higher against the US Dollar, and looks set for more gains.
  • The AUDUSD pair likely forming a repeat pattern of the previous inverse head and shoulders pattern, which could take the pair higher.
  • Australian Import Price Index was published by the Australian Bureau of Statistics earlier today, which came in at -0.3% for Q4 2015.
  • Australian Export Price Index was also down, and registered a decline of 5.4% in Q4 2015.

Technical Analysis

The AUDUSD pair once formed an inverse head and shoulders pattern on the hourly chart, and it looks like the same pattern is about to repeat the same pattern (as can be seen in the chart). There is a resistance trend line formed on the hourly chart that may act as a hurdle and stall gains.


There is a chance of a minor dip before the AUDUSD pair starts to trade higher once again. A break above the trend line is needed for a move towards 0.7120.

On the downside, the 50 hourly simple moving average is an important support for AUDUSD in the short term.

Australian Import and Export Price Index

There was hardly any economic release in Australian today, and only the Import Price Index and the export price index report was published by the Australian Bureau of Statistics. The Import price index, which informs the changes in the price of imported products came in at -0.3% for Q4 2015.

And, the Export price index, which informs of the changes in the price of exports posted a decline of 5.4% in Q4 2015.

The AUDUSD pair is trading with a bullish tone, and if buyers remain in control, then a move towards the 0.7120 is possible in the short term.

Share!Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+

No comments yet.

You must be logged in to post a comment.

Forex, Commodities, Indices

Daily Updates

Daily Updates

Get the latest fundamental analyses, technical analyses and the most up-to-date Forex news catered to your interests, everyday.