Euphoria from PBoC move unlikely to last: Having surged to as high as .8722 following the PBoC rate cut decision Friday evening, the AUDUSD has continued to...
Euphoria from PBoC move unlikely to last: Having surged to as high as .8722 following the PBoC rate cut decision Friday evening, the AUDUSD has continued to ease lower this morning with the pair currently buying .8663. With Japanese markets closed and no major tier-one data scheduled across the region, the movements in USDJPY, something of a proxy for overall USD moves in Asia, should be the greatest influence on Aussie today. Support is located between .8650-55 and at .8603 with resistance kicking in at .8680, .8700 and again at .8722. (VIEW LINK)
David is a Director of Scutt Partners Pty Ltd and has successfully worked in the financial services markets over the past 12 years with both large and smaller banking groups. He has provided strategic financial analysis for currency and interest...
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