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13th Oct 2014 AUD/USD Analysis

13th Oct 2014 AUD/USD Analysis

dollar, AUD, Australian Dollar, AUD/USD outlook, AUD/USD technical analysis, AUDUSD technical analysis, AUD/USD Forecast, Aussie Dollar, Reserve Bank of Australia, AUDUSD analysis, AUDUSD outlook, AUDUSD technical analysis,  AUD/USD analysis, AUDUSD outlook, Glenn Stevens, RBA, U.S Dollar, USD Australian dollar falls to close lower than the lowest in 2013 after re-attaining 0.89 earlier in the week

dollar, AUD, Australian Dollar, AUD/USD outlook, AUD/USD technical analysis, AUDUSD technical analysis, AUD/USD Forecast, Aussie Dollar, Reserve Bank of Australia, AUDUSD analysis, AUDUSD outlook, AUDUSD technical analysis,  AUD/USD analysis, AUDUSD outlook, Glenn Stevens, RBA, U.S Dollar, USD Falling commodity prices and slowdown in housing availability plus jobs creation not up to estimates have seen little reason for Australia dollar bulls to enter

dollar, AUD, Australian Dollar, AUD/USD outlook, AUD/USD technical analysis, AUDUSD technical analysis, AUD/USD Forecast, Aussie Dollar, Reserve Bank of Australia, AUDUSD analysis, AUDUSD outlook, AUDUSD technical analysis,  AUD/USD analysis, AUDUSD outlook, Glenn Stevens, RBA, U.S Dollar, USD The market is reluctant to see Australian dollar to trade below 0.864, which would be edging closer to the “market equilibrium” 0.85 against the USD as quoted by the RBA

Slow down in employment change and maintaining the cash rate – with only the latter being expected, saw the Australian dollar unable to keep up with its mini revival for the last week as gains towards 0.89 were erased as the week ended with AUD/USD trading just above 0.868.

We will likely see swings on the Australian dollar this week due to China’s trade balance on Monday and NAB Business Confidence on Tuesday, as falling commodity prices a key factor on the upcoming trade balance figure projections for next month weighs on the Australian, New Zealand and Canadian dollars.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Bearish0.8470.850.8640.880.890.895

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