AUS$ held in the flag until tomorrows CPI and Thursdays FOMC

Jim Devonport

Compass Global Markets

AUDUSD: With no fresh data the A$ ground higher, held within our flag formation and with nothing due today either we should hold firm. There is a chance of a break with the data that’s due in 24 hours, but we do not foresee a large move until we hear from the FOMC. AUDEUR: Did have a look higher still although the move was reversed with the Ifo. There is no major EU data set to come today so we should see these levels held and perhaps a test higher again. We see another 100 points of upside until initial resistance levels. AUDGBP: UK GDP data is due this evening and should remain in positive territory, therefore capping any sizeable gains here. As per yesterday’s report, technically the near term upward corrective channel is still in play so may give GBP buyers another opportunity before the major downward trend continues. AUDNZD: Closed flat on the day. Today’s NZ Trade Balance will be of interest but tomorrows Australian CPI and Thursdays RBNZ meet will be the more important. FULL REPORT: (VIEW LINK)


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Compass Global Markets

Involved in the financial markets performing both sales and dealing roles since the mid 1980’s, Jim has a wealth of knowledge, experience and sales acumen that he uses to build and maintain long lasting business relationships. Constantly...

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