Market Research and Analysis

Daily Market Analysis Report

Mon, 30 Jan 2017 08:26 AM GMT

Author: Senior Forex Analyst, Arslan Ali Butt

  • Daily Trading Range:
  • 0. 7550 – 0.7275
  • Support & Resistance Levels:
  • R3: 0.7637
    R2: 0.7597
    R1: 0.7572
    Pivot Point: 0.7533
    S1: 0.7493
    S2: 0.7468
    S3: 0.7429
  • Trading Recommendation:
  • Sell Below: 0.7565
    Take Profit:
    1st @ 0.7515
    Stop Loss @ 0.7575

AUDUSD

AUDUSD is trading at 0.7531, down -0.05% on the day, having posted a daily high at 0.7540 and low at 0.7524. As of now exchanging around 0.7540 district, testing session lows, a humble greenback recuperation, with the key US Dollar Index bouncing back from 7-week lows, was sufficient to switch part of the pair’s bounce back move from Wednesday’s week by week lows touched in the fallout of disillusioning Australian CPI print. Aside from the wide based greenback recuperation, a new leg of up-tick in the US treasury security yields is likewise pushing streams far from the higher-yielding money – Aussie.

30 Jan AUD
Fundamental Overview

CPI rose 0.5% this quarter, compared with a rise of 0.7% in the September quarter 2016, rose 1.5% over the twelve months to the December quarter 2016, compared with a rise of 1.3% over the twelve months to the September quarter 2016.  The most significant price rises this quarter are tobacco (+7.4%), automotive fuel (+6.7%), domestic holiday travel and accommodation (+5.5%) and new dwelling purchase by owner-occupiers (+0.5%). The most significant offsetting price falls this quarter are international holiday travel and accommodation (-2.6%).

AUD

  • RBA Assist Gov Debelle Speaks

USD

  • Core PCE Price Index m/m
  • Personal Spending m/m
  • Personal Income m/m
  • Pending Home Sales m/m
  • Loan Officer Survey

Technical Overview

Technically, the AUDUSD is trading sideways in a symmetric triangle pattern. It has a strong resistance at 0.7580, holding below a double top resistance come support level of 0.7565, formation on daily time-frame. Besides, the breakage below 0.7520 is likely to lead the market towards next target level of 0.7460 and above this level, market is likely to target 0.7560. The RSI value has shifted to at 45 from 54. Today, the AUDUSD can find a resistance at 0.7550 and 0.7595, further, the supports remains at 0.7525 and 0.7475.

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