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26 Feb 2015
AUD/USD pops lower on poor capex
FXStreet (Guatemala) - AUD/USD is currently trading 0.7866 with a high of 0.7889 and low of 0.7856.
AUD/USD has dropped on the Private Capital Expenditure (Q4) data that read as -2.2 vs -1.9 expected and 0.6 previous. However, looking ahead, most of the focus on Aussie will be RBA next week while markets speculate as to whee the the bank will cut again this time around.
Technically, the pair has eyes on the 0.79 handle stemming from 0.7760's quick advance this week so far. This is the area of downtrend at 0.7965 and the 7th Jan low at 0.8034. Karen Jones chief analyst at Commerzbank explained that a close above here is needed to alleviate downside pressure. "Below 0.7597 we have very little support apart from the .7335, 50% retracement of the move up from 2001."
AUD/USD has dropped on the Private Capital Expenditure (Q4) data that read as -2.2 vs -1.9 expected and 0.6 previous. However, looking ahead, most of the focus on Aussie will be RBA next week while markets speculate as to whee the the bank will cut again this time around.
Technically, the pair has eyes on the 0.79 handle stemming from 0.7760's quick advance this week so far. This is the area of downtrend at 0.7965 and the 7th Jan low at 0.8034. Karen Jones chief analyst at Commerzbank explained that a close above here is needed to alleviate downside pressure. "Below 0.7597 we have very little support apart from the .7335, 50% retracement of the move up from 2001."