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14 Aug 2015
AUD/USD: steady in to the closing hours post Chinese fix
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7367 with a high of 0.7383 and a low of 0.7355.
AUD/USD is flat after an initial bid and then reversing the same pips to the downside on the release of Chinese fix today, with it strengthened by 0.05% at 6.3975 vs last close 6.3990. It seems that the PBoC is holding off for now on on continued devaluations and the Central Bank held a briefing yesterday in Beijing, where Deputy Governor Yi Gang was explicit describing reports stating that the PBoC wants to devalue the renminbi by 10% as “nonsense”. Meanwhile, the Aussie has been less volatile overnight, slightly softened by the US retails sales beating expectations ahead of CPI's and the FOMC minutes next week.
AUD/USD neutral and consolidated
AUD/USD is consolidating this weeks volatility and Karen Jones, chief analyst at Commerzbank explained that only a daily chart close above the 23.6% Fibonacci retracement at 0.7440 and the 0.7448 July 21 high will trigger a recovery towards the 0.7531 55 day moving average. 0.7235 is major support on further supply.
AUD/USD is flat after an initial bid and then reversing the same pips to the downside on the release of Chinese fix today, with it strengthened by 0.05% at 6.3975 vs last close 6.3990. It seems that the PBoC is holding off for now on on continued devaluations and the Central Bank held a briefing yesterday in Beijing, where Deputy Governor Yi Gang was explicit describing reports stating that the PBoC wants to devalue the renminbi by 10% as “nonsense”. Meanwhile, the Aussie has been less volatile overnight, slightly softened by the US retails sales beating expectations ahead of CPI's and the FOMC minutes next week.
AUD/USD neutral and consolidated
AUD/USD is consolidating this weeks volatility and Karen Jones, chief analyst at Commerzbank explained that only a daily chart close above the 23.6% Fibonacci retracement at 0.7440 and the 0.7448 July 21 high will trigger a recovery towards the 0.7531 55 day moving average. 0.7235 is major support on further supply.