AUD News 

AUDUSD tests 100 hour MA ahead of the RBA decision in the new day

“In the process, the price has moved to test the rising 100 hour MA at 06893” reports forexlive.com. The RBA cut rates in October to 0.75% from 1.0%.The AUDUSD has moved to a new session low as London/European traders look to exit.NOTE: The RBA will announce their decision on rates at 10:30 PM ET with the expectations for now change (94% chance of no change). Source: forexlive.com

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AUD News 

AUDUSD down but bouncing off support.

“The AUDUSD is down but has bounced off support defined by a trend line on the hourly chart (see red circle 5)” reports forexlive.com. The high on Friday did stall just before level (see green circle 12) SUMMARY: For bulls/buyers close support at 200 hour MA.  Other support at the 100 hour MA and the underside of the broken trend line at 0.67283. Source: forexlive.com

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AUD News 

AUD/USD at two-week lows as traders rush to price in RBA rate cut for October

“The Australian jobs report earlier today wasn’t exactly abysmal but it was nowhere near game-changing for the RBA and that set traders off to quickly price in another 25 bps rate cut going into next month’s meeting” reports forexlive.com. AUD/USD is currently testing swing region support around 0.6782 but beyond that, we could see price move towards a test of the 0.6700 region again as sellers stay in near-term control.And that has led to the notable drop in the aussie to start the day. Source: forexlive.com

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AUD News 

The aussie picks up from where it left off last week

“The aussie is continuing to quietly make its climb higher as AUD/USD buyers pick up from where they left off last week” reports forexlive.com. I’ve highlighted last week that the yields spread play is arguing in favour of upside momentum towards 0.7000 potentially so let’s see how things are shaping up now: As you can see, AUD/USD is starting to adjust higher to reflect the tightening in the yields spread (in favour of the aussie) so at this stage I reckon the currency may take things a bit slower from…

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AUD News 

AUD/USD recovers but it’s capped

“The independent forward-looking gauge of the Chinese economy, the Caixin Manufacturing PMI, beat expectations and hit 49.9 points, just under the 50-point threshold that separates expansion from contraction” writes Yohay’s Google Profile for forexcrunch.com. The latest US data already missed expectations with Personal Spending falling by 0.5% and Personal Income by 0.1%.The number even came out better than the official government PMI. The good news from Australia’s No. 1 trading partner supported the A$. Source: forexcrunch.com

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