AUD,NZD/Flows and Orders/FXWW News/Technical Analysis/Trade Ideas

AUD/USD: Still finding decent support near .8900

  • On the last two visits to .8900, dealers have been reporting ‘good names’ on the bid;
  • Technical picture still looks bearish whilst below .9070 and a test of trend lows at .8845 looks quite possible;
  • Don’t expect anything from RBA tomorrow;
  • AUD/JPY stuck between .8625/.9015 and needs to break out of this range for fresh momentum;
  • EUR/AUD had false break above 1.5000 and is back at short-term pivot near 1.4750 with more consolidation expected;
  • AUD/NZD looks to have posted an interim base at 1.1200 and I favour a test of first Fibo near 1.1760.


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