AUD,NZD/FXWW News/Open/Wrap

AUD/USD: Favours a .9420/.9520 trading range

  • Previous highs turned pivot at .9520 should offer solid resistance;
  • Sovereign bids expected .9410/20;
  • Crosses look mixed but AUD does seem to be nearing better value levels, especially against the EUR where resistance 1.4560 should be solid (see chart);
  • Minor Australian economic data today, business confidence and building permits;
  • I don’t think the present market has the momentum to break new ground so range trading is preferred.

Leave a Reply

Your email address will not be published. Required fields are marked *