AUD/USD Signal Update
No signals were given yesterday.
Today’s AUD/USD Signals
No specific signals are given today.
AUD/USD Analysis
For a while yesterday during the early part of the London session it was looking as if this pair was starting to take off again. This would not have been a surprise as last week the pair made a new 8 month high and so overall we have a fairly bullish trending environment, as well as a recent bullish breakout that while not extremely strong, certainly did have some power to it. However the pair fell from its high at around 0.7650 and to a large extent the sideways movement of the past several days has been due to a recent strength in the USD and a general rise in risk-on sentiment, which has become more pronounced following yesterday’s attacks in Belgium.
Over the past day or so there has been another interesting development – a growing consensus that the Reserve Bank of Australia are not going to be cutting the interest rate again this year, and possibly even into next year. This suggests that the USD strength is quite pronounced for a move up not to happen in the light of this sentiment. It does mean that when the USD falls off, this pair is likely to rise again and make new high prices.
There is nothing due today concerning the AUD. Regarding the USD, there will be a release of Crude Oil Inventories data at 2:30pm London time