Capital Trust
Capital Trust

Oct 21, 2016

02:24 PM EDT

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

Home » Technical Analysis » Daily » AUD » AUDUSD – Showing Positive Signs

AUDUSD – Showing Positive Signs

Posted by FXTimes in AUD - December 31st, 2015 10:45 am GMT

Aussie dollar AUDNZD

Key Points

  • The Aussie Dollar traded higher during the past couple of sessions against the US Dollar, and currently trading in the bullish zone.
  • There is a monster support trend line formed on the hourly chart, which may act as a buy area if the AUDUSD pair corrects lower.
  • The 50 hourly simple moving average is also positioned on the downside to act as a hurdle for buyers.
  • Australian Private Sector Credit released by the Reserve Bank of Australia posted an increase of 0.4% in October 2015, which was lower when compared with the forecast of 0.6%.

Technical Analysis

The AUDUSD pair spiked today to trade near the 0.7320 resistance area where sellers appeared to defend the upside. Currently, the pair is correcting lower and looks set for a test of the 50 hourly simple moving average.


Buyers may appear around the 50 MA or at a major support trend line on the hourly chart. It represents a major barrier for sellers and we may consider buying.

On the upside, a break above the recent high of 0.7326 may take the AUDUSD pair towards 0.7350.

Australian Private Sector Credit

Today, the Australian Private Sector Credit, representing the amount of money that the Australian private sector borrows was released by the Reserve Bank of Australia. The market was expecting a rise of 0.6% in October 2015, compared with the preceding month but the result was disappointing, as the increased was of 0.4%.

When we look at the year-over-year change, then the Australian Private Sector Credit came in line with the forecast and posted a rise of 6.8% in October 2015, compared with the same month a year ago.

Overall, the AUDUSD pair looks set for more gains, but a short term correction from the current levels cannot be discarded.

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.