Our "line in the sand" held, but can we break the range? Perhaps the FOMC's Lockhart will tell us.

Jim Devonport

Compass Global Markets

AUDUSD: Opens higher on the more neutral RBA stance, US Jobs disappointed and the weekends mixed Chinese numbers. It will therefore be interesting to see what FOMC Member Lockhart says this evening as he was the one to suggest a delay to a rate hike last week. We do need to take out last week’s highs for further upside as support now appears to be firming. AUDEUR: Edged slightly higher on the back of the RBA statement and nothing of interest out of Europe. On the charts we appear set for the 50% retracement of the selloff siting 150 points above. AUDGBP: The Pound continues to give up ground here as there was no supporting UK data to take on board and in fact is none until the mid week unemployment numbers. Having hit resistance we should sit here for the next couple of days. AUDNZD: Closed the week on the up as sentiment is still very much against the Kiwi Dollar and we so no reason to sway from our view of higher levels. (VIEW LINK)


Jim Devonport
Jim Devonport
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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