Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

FX Report: AUD/USD

Published 10/25/2011, 09:54 AM
Updated 07/09/2023, 06:31 AM
AUD/USD
-
HTG
-

AUD/USD tried to take out the stops above the Asia session high during the European
morning but the markets sidelined direction didn’t give enough ammo for any real move and it wasn’t until the early US morning that the positive momentum kicked in with the stops taken out above 1.0420. Positive risk sentiment helped commodities and equities rally and with those two areas well bid momentum buyers and caught shorts drove the price higher and it tested 1.0500 offers late in the session with intraday profit taking and longer term names being seen on the offer. CB Leading Index m/m and RBA Gov. Deputy Battellino speaking in Sydney are the only main focus points of the day with the Deputy more than likely to continue talking up the state of the economy.

WE will be looking for profit taking and new shorts to control early and then a little short term stop hunting if the pair is still towards the 1.0500 highs. Yesterdays rally is clearly catching out a markets that remains short.
Compass Direction Short-Term Medium-Term NEUTRAL NEUTRAL

Please see the attached chart below.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.