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7th Nov 2014 AUD/USD Analysis

7th Nov 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 drops to below 0.8600 levels as the 4th day of losses this week pushes it close to 0.8500 support

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 Previous support at the 127.2% Fibonacci downtrend expansion sees breakthrough yesterday as market trades slightly above the 141.4% at 0.854

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 Monetary poilcy meeting minutes released in full today did not impact the pair much as the moving averages ebb lower and any gains past 0.861 today is likely to be limited

A bullish dollar in trading yesterday after the unemployment claims registered a bigger drop than expected saw Australian dollar fall to 40 pips away from 0.8500. The AIG construction index registered a reading of 53.4, signaling expansion but at a lower pace than the previous month. Monetary Policy meeting minutes by the RBA are released today and hints at growth in China as the main indication of growth that will correlate with how Australia is faring. The recent easing in Japan will likely lead to investors seeking higher yield gains and may see capital flocking to Australia, driving up exchange rates. The RBA seeks to be accommodative, and despite the recent decline in rates, it is still in favour of a lower rate closer to its fundamental value.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Slight Bearish 0.838 0.8480.8530.8570.8610.865

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