AUDUSD Fundamental Short

FX:AUDUSD   Australian Dollar/U.S. Dollar
15 0 0
Fundamentals : Suggest the USD is the stronger currency for the near term.

Fed is hawkish , and balance of recent economic data is positive. Existing Home Sales 557M ( 551M) , Building Permits 1153M (1136M) , Retail Sales 0.6% (0.2%), Core CPI             0.2 (0.2) , PPI 0.5% (0.4%) NFP 287K (11K) .

RBA is dovish, signalling a "live" upcoming rate decision in August. Recent ( June / July ) economic data balance negative = Employment Change 7.9 k (19.2 K) , Unemployment rate 5.8%(5.7%) , Home Loans -1.0 (1.4), Building Approvals -5.2% (3.3 % ), Trade Balance -2.218 B ( -1.785 B). The upcoming CPI             data will be pivotal.

Technical - Over the longer term since July 2011 the AUDUSD             has been in a downtrend. Measures of support and resistance , both in price action and measured ( with a fundamental view that is bearish the AUD) , suggest a Short trade from recent resistance of 0.75 level. The reward risk targeted is conservative , and labelled on the 4hr Chart .

Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out