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The Aussie came under pressure, after weaker than expected chinese manufacturing data

Discussion in 'Current Market Sentiments' started by fx-recommends, Jan 4, 2016.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
    Likes Received:
    AUDUSD Daily 04-01-2016 06-42-18 ص.jpg
    The Aussie was the most negatively impacted currency by the weaker than expected release of Dec Chinese NBS Manufacturing PMI, as the Australian economy depends mainly on exporting the raw materials especially to China and this dovish figure is keeping the door opened for further stimulating measurements to be taken by RBA which is keeping the interest rate unchanged at 2% since last May. 5.

    After having a higher low at 0.7095, AUDUSD could extend its rebound to 0.7325, before retreating again to have its daily Stochastic Oscillator (5, 3, 3) which is sensitive to the volatility in the neutral area coming down from the overbought area above 80. AUDUSD daily Stochastic Oscillator (5, 3, 3) main line is referring now to 43.553 and its signal line is reading 64.783.

    The rebound of AUDUSD from 0.7095 is still keeping its daily Parabolic SAR (step 0.02, maximum 0.2) below the trading rate for the ninth consecutive day referring today to 0.7178.

    Important levels: MA50 @ 0.7197, MA100 @ 0.7171 and MA200 @ 0.7408


    S1: 0.7095
    S2: 0.7014
    S3: 0.6933
    R1: 0.7325
    R2: 0.7383
    R3: 0.7494

    Have a good day

    Walid Salah El din
    Senior Market Analyst
    Skype : chief.economist.walid

    Tel: UK. +44 1138590277
    Mob: EGY. +20 1224659143

    To open your account at Trade-24 - Click here

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