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Thread: AUD / USD Expected Range: 0.7580 - 0.7680

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    Junior Member ihab fx is an unknown quantity at this point ihab fx's Avatar
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    AUD / USD Expected Range: 0.7580 - 0.7680

    AUD / USD

    Expected Range: 0.7580 - 0.7680

    The Australian dollar edged marginally lower through trade on Tuesday as investors reassess U.S interest rate expectations. The Aussie found support in early trade advancing to touch intraday highs at 0.7655. Analysts appeared to downsize their expectations for U.S interest rate plays and prepare positions ahead of US fed Chair Janet Yellen’s Jackson Hole address. The symposium of Global Central bankers will be closely monitor by market makers as traders scrutinise comments for clues and hints to future monetary policy platforms. With many investors anticipating Yellen will proffer an upbeat commentary nuanced with dovish undertones the Greenback suffered a short term repositioning through Australasian trade. The AUD then met profit takers and eased lower into the daily close as upbeat US housing data helped stop the USD sell off. Touching intraday lows at 0.7614 the AUD now buys 0.7610. Attentions today remain with U.S interest rate expectations as directional flows stem from shifting sentiments.

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    It looks more likely that it would rise to 0.7642 - 0.7670 from 0.7614 or 0.7601. After which a downside move is expected.

    Supports and Resistance levels

    Support(1) 0.7601 Support(2) 0.7586
    Resistance(1) 0.7642 Resistance (2) 0.7670
    Pivot 0.7628

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    With many investors anticipating Yellen will proffer an upbeat commentary nuanced with dovish undertones the Greenback suffered a short term repositioning through Australasian trade. The AUD then met profit takers and eased lower into the daily close as upbeat US housing data helped stop the USD sell off. Touching intraday lows at 0.7614 the AUD now buys 0.7610. Attentions today remain with U.S interest rate expectations as directional flows stem from shifting sentiments

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    AUD / USD

    Expected Range: 0.7580 - 0.7680

    The Australian dollar edged marginally lower through trade on Tuesday as investors reassess U.S interest rate expectations. The Aussie found support in early trade advancing to touch intraday highs at 0.7655. Analysts appeared to downsize their expectations for U.S interest rate plays and prepare positions ahead of US fed Chair Janet Yellen’s Jackson Hole address. The symposium of Global Central bankers will be closely monitor by market makers as traders scrutinise comments for clues and hints to future monetary policy platforms. With many investors anticipating Yellen will proffer an upbeat commentary nuanced with dovish undertones the Greenback suffered a short term repositioning through Australasian trade. The AUD then met profit takers and eased lower into the daily close as upbeat US housing data helped stop the USD sell off. Touching intraday lows at 0.7614 the AUD now buys 0.7610. Attentions today remain with U.S interest rate expectations as directional flows stem from shifting sentiments.
    thanks very much

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