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22 Oct 2015
AUD/USD recovers from very bearish territory
FXStreet (Guatemala) - After dropping below the 0.72 handle, earlier on, AUD/USD has perked up and moved to the 50 SMA on the hourly chart on the bid while investors take a gamble on risk where Draghi delivered a dovish outlook and German 2yr yields drop to record lows and stocks gallop with the Dax up 2%.
Elsewhere, US data was positive on the jobs front, with initial jobless claims (IJC) for Oct 16 and continuing jobless claims (CJC) Oct 9 released. The data came in beating expectations with IJC 259k vs 265k expected and CJC 2.17m vs 2.188m expected. We then had the existing home sales that too offered a bullish picture for the FOMC to add to their case for lift- off in, perhaps, December, 5.55M vs 5.38m expected and 4.&% vs 1.0% expected.
AUD/USD levels
Technically, the key levels are still with the 0.7385 Fibo retracement that is guarding the 0.7367 2014-2015 downtrend and the August high at 0.7439. On a retracement back below the key and psychological 0.7200 is the 0.7180 support and 0.7000.
Elsewhere, US data was positive on the jobs front, with initial jobless claims (IJC) for Oct 16 and continuing jobless claims (CJC) Oct 9 released. The data came in beating expectations with IJC 259k vs 265k expected and CJC 2.17m vs 2.188m expected. We then had the existing home sales that too offered a bullish picture for the FOMC to add to their case for lift- off in, perhaps, December, 5.55M vs 5.38m expected and 4.&% vs 1.0% expected.
AUD/USD levels
Technically, the key levels are still with the 0.7385 Fibo retracement that is guarding the 0.7367 2014-2015 downtrend and the August high at 0.7439. On a retracement back below the key and psychological 0.7200 is the 0.7180 support and 0.7000.