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Posts Tagged ‘Australian’

The Australian economy is expected to add another 20.0K jobs in February following the 24.0K expansion in the previous month, and the ongoing improvement in the labor market could spark a bullish reaction in the local currency as the recovery gathers pace.

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As market participants expect retail sales in Australia to increase for the second consecutive month in December, the rise in private consumption could lead the near-term rally in the AUD/USD to gather pace as growth prospects improve.

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Australian, New Zealand Dollars Decline on Concern China to Tighten Policy
The Australian dollar fell versus the U.S. currency and yen after China’s central bank said it will strengthen liquidity management and “normalize” monetary conditions, damping demand for higher-yielding currencies.

Read more on Bloomberg

Australian Dollar in Center of Range
Daily Bars Prepared by Jamie Saettele I favor additional weakness in a more complex correction (a double 3) towards the Elliott channel support line to complete wave 4 within the 5 wave advance from the May low. Even a test of the high would not alter this outlook, as that could complete wave b or x of a larger pattern. DailyFX provides forex news on the economic reports and political events …

Read more on Daily FX via Yahoo! Finance

Australian dollar breaks two year high
The Australian dollar has broken through the 96 US cent barrier on Monday to reach a two year high.

Read more on Sky News Australia

The AUDUSD needs to drop in a b wave before we can look to establish longs for wave c. The minimum bullish objective is above 9410 although I do expect a move closer to 9600.

View full post on DailyFX – Technical Analysis – Candlesticks