AUD/USD: 100 4hr tested again on oil bouncing 4%

By FXStreet FXStreet (Guatemala) – AUD/USD has been chasing the bid on the 0.72 handle and was approaching the 100 and 200 SMA on the hourly charts at 0.7230. Oil is bouncing back on inventories and perhaps this is the start of the short squeeze that might be expected with a bottom now made?

The minor recovery offers the bears a tough choice for the New Year ion the short-term play while longer term, the broader trend is bearish and should Australia start to show cracks in its services industry and jobs sector, the RBA’s rhetoric might offer a cause for easing.

China remains a threat and some suggest that Australia has not felt the full effects of it yet. Meanwhile, we will wonder how the US economy will perform in respect to Yellen’s gradual approach. These subjects were discussed recently when FXStreet hosted a special event about what 2016 might hold for the Forex traders.

The panelists were Ashraf Laidi, Boris Schlossberg, Adam Button and Valeria Bednarik. Today, we want to share with you the recording of the whole show. Watch now and look out for commentary around the RBA, commodities, China and currency wars.

AUD/USD levels

Technically, AUD/USD met …read more

Source:: FX Street