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26 Feb 2015
AUD/USD extends the bounce off 0.7850
FXStreet (Edinburgh) - The Aussie dollar is looking to gain further traction on Thursday, after AUD/USD bottomed out around 0.7840 post-CapEx figures.
AUD/USD hurt by data
The key Private Capital Expenditures in Oz contracted more than expected 2.2% during the last three months of 2014, vs. forecasts for a 1.9% drop and reverting the 0.6% previous advance.
Spot reacted accordingly, extending the correction lower from recent 4-week tops just above the 0.79 handle to overnight lows in the 0.7840 area, although gaining some pips afterwards. In the very near horizon, New Home Sales tracked by HIA will be the next data of note in the domestic docket, while the USD dynamics are poised to dictate the broader price action.
AUD/USD levels to watch
The pair is now losing 0.45% at 0.7853 facing the next support at 0.7840 (low Feb.26) followed by 0.7808 (10-d MA) and finally 0.7800 (psychological level). On the flip side, a break above 0.7902 (high Feb.25) would expose 0.7907 (high Jan.29) and then 0.8026 (high Jan.28).
AUD/USD hurt by data
The key Private Capital Expenditures in Oz contracted more than expected 2.2% during the last three months of 2014, vs. forecasts for a 1.9% drop and reverting the 0.6% previous advance.
Spot reacted accordingly, extending the correction lower from recent 4-week tops just above the 0.79 handle to overnight lows in the 0.7840 area, although gaining some pips afterwards. In the very near horizon, New Home Sales tracked by HIA will be the next data of note in the domestic docket, while the USD dynamics are poised to dictate the broader price action.
AUD/USD levels to watch
The pair is now losing 0.45% at 0.7853 facing the next support at 0.7840 (low Feb.26) followed by 0.7808 (10-d MA) and finally 0.7800 (psychological level). On the flip side, a break above 0.7902 (high Feb.25) would expose 0.7907 (high Jan.29) and then 0.8026 (high Jan.28).