AUD,NZD/FXWW News/Trade Ideas

AUD/USD outlook, August 19th: Consolidation before more gains

  • I’m still of belief that a base is in place near .9000 and will only change this view below .8950;
  • Strong moves in metals will benefit AUD but sell-off in global equity markets is a bearish factor;
  • Wouldn’t be at all surprised to see some extended .90/.93 consolidation pre-Australian general election;
  • AUD/JPY made a bullish technical break and retraced to a 38.2% Fibo;
  • EUR/AUD has a topping formation in place whilst it stays below 1.4750.
  1. hi Sean, not a force driving AUD but AUDCAD has made an interesting breakout on friday. a clear down trendline on daily chart is broken. also this pair closed confidently above 20 ema for the first time since mid-April

    on the fundamental side weak jobs and manufacturing sales data are troublesome for CAD.

    anyway, if AUD squeeze is on its way IMHO this is a great pair to play it. i went long last week and as long as it stays above 0.9380 technicals look good.

  2. Australian terms of trade has turned very bullish on AUD in recent weeks as iron ore prices and PM move higher while manufactured goods prices continue to falter. For a chart click my name above and scroll down to see blog post. (Source from Inside Business ABC TV1)

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