The Aussie traded as low as 0.9580 after the news releases but in an hour gained 100pips, climbing back to 0.9675. The private capital expenditure was much worse than expected at -4.7%, but at the same time building approvals jumped to 9.1% instead of the forecast 4.1% and -5.5% previously. The EUR/USD is trading at 1.2960, 0.2% higher than opening. The USD/JPY is currently at 101.10, with quite a large whipsaw and a fresh month at 100.55. At the same time, the Nikkei is lower, below the 14000 level and losing 2.75% for the day.
Trade Idea
AUDUSD Daily Chart:
The Aussie despite penetrating very important support it has not managed to close below and has formed a doji candle. In addition RSI(14) shows that the pair is oversold. This might be an early short-medium term trend reversal signal, nevertheless all attempted longs should normally wait for additional confirmation.
AUD/USD Daily" title="AUD/USD Daily" width="837" height="573">
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AUD The Main Attraction Today
Published 05/30/2013, 07:35 AM
Updated 04/25/2018, 04:40 AM
AUD The Main Attraction Today
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