AUD,NZD/FXWW News/Technical Analysis

AUD/USD: Corporate demand returns but still feels heavy (play .8825/.9125 range)

  • Speculators are heading for the sidelines ahead of the FOMC which will be a big risk event for pairs like AUD/USD;
  • Real-money funds are still looking to sell into any big rallies but corporate end-of-year buyers have started to appear;
  • Technically I’d expect resistance to be very firm near the 21-dma at .9125 and the bearish channel has a base now near .8825 which should provide support;
  • We are close to the middle of these edges at the moment so there are no easy trades.
  1. Only firm interest I’ve heard Chris was corporate buy orders at regular 5/10 pip intervals below .8930. Not enough to hold one level but enough to have an overall effect

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