Japan’s land sale scandal coming back into focus as trade war fears slink away. In the meantime, how does the AUDUSD pair trade with little impactful macro data for Tuesday? Find out on the 27 March AUDUSD Fundamental Drivers Forecast.
27 March, GKFX – The Aussie is still testing to the topside of Monday’s action following a resurgence in risk appetite, but the pair appears to have run out of steam and is cycling around the 0.7745 level heading into the Tokyo session.
Little impactful macro data for Tuesday
A lack of macro data is leaving the Asia session currencies free to roam as market sentiment dictates, and a round of Dollar buying is making its way into the markets and the Aussie is tending to the lower side after reaching a high of 0.7757.
Japan’s land sale scandal back in focus
With fears about a trade war between the US and China ebbing, for now, the focus is swinging back to the Japanese land sale scandal that rocked the Japanese parliament in recent weeks. Witnesses and key players are speaking in the Japanese Diet throughout the week, and headlines can be expected to put a damper on market buying as details continue to leak out of Japan, knocking risk appetite back down for the Antipodean currencies in the process.
27 March AUDUSD Fundamental Drivers Forecast
With early Tuesday’s spike in activity driving the pair past Monday’s late highs, the support and resistance zones have shifted upwards slightly, and immediate resistance is currently sitting at Tuesday’s new high of 0.7757, with last week’s high of 0.7784 further out, and support sitting at last Friday’s previous resistance at 0.7735 and Friday’s low at 0.7690.
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