USD Trading Outlook (24-02-2015)

AUD/USD Both Europe & NY made attempts to break below the 200-HMA but failed the resulting bounces were limited though. AUD/USD’s bounce off the MA could only reach s-t hourly resistance near 0.7815. The bounces were likely limited due to generally heavy commodity prices and AUD/NZD’s slip towards 1.0355. NY’s afternoon saw the pair a bit heavy and sit near 0.7800 into the close. Traders aren’t getting overly aggressive as they await Fe Chief Yellen’s testimony to congress tomorrow. Should she lean hawkish and have a June hike feasible, AUD/USD should slide. key supports near 0.7740 & 0.7720 might then get tested. A break below 0.7720 likely means the recent squeeze is through and a retest of the 2015 low might ensue.

Back to USD Trading Outlook Archive

join THOUSANDS OF other people
who trade with easymarkets

Two minutes is all it takes.

You're almost there!

Finish your application and start trading today.

DON'T MISS A TRADING OPPORTUNITY

Two minutes is all it takes.