AUD/USD better offered in early Asia at hourly 200 SMA

By FXStreet FXStreet (Guatemala) – AUD/USD has has been a good performer, up to test the 200 SMA on the hourly chart capped there at 0.7040 on the handover to early Asia.

AUD/USD relished in the Australian business conditions survey that sparked a round of short-covering first up, then the risk-on environment that emerged in late Asia yesterday following through to European and US markets, commodities rising and the signs of improvement in China’s property market that is another arrow for copper’s upside along with the Glencore news. For the meantime, we also await the FOMC and keep an ear out for such commentary from the IMF chief economist, for example, who has been reported stating that the Fed should hold off until the Global recovery improves, the dollar could

RBA’s Lowe coming up

Now we await Home loans and RBA’s deputy, Lowe, are coming up tonight ahead of the jobs report for the Australian economy later in the week. Lowe, however, speaks first at the Committee for Economic Development of Australia event and this should draw some keen attention as he will give an insight to the Australian economy and outlook.

AUD/USD bullish, but still below key resistance

AUD/USD has been working hard …read more

Source:: FX Street