13 May 2015
AUD/USD breaks through 0.80 round number
FXStreet (Bali) - AUD/USD has broken through the 0.80, although is having some difficulties holding onto gains above the round number, last at 0.7995, potentially targeting next area of resistance at 0.8030, swing high from May 6.
After a brief period of consolidation post Friday's US NFP, buyers managed to regain control of prices on Tuesday, with a solid daily close near highs a sign that buyers remain committed to see higher prices near term.
Next risk events will be Australia's wage price index at 1.30 GMT, Chinese data at 5.30 GMT (including retail sales, industrial production and urban investment), with US retail sales taking center stage later on the day.
Looking at the latest COT report for the week ending May 5th, "open interest was slightly down after a major shift in positions as data shows specs have gone neutral post new-found neutral stance by RBA.
After a brief period of consolidation post Friday's US NFP, buyers managed to regain control of prices on Tuesday, with a solid daily close near highs a sign that buyers remain committed to see higher prices near term.
Next risk events will be Australia's wage price index at 1.30 GMT, Chinese data at 5.30 GMT (including retail sales, industrial production and urban investment), with US retail sales taking center stage later on the day.
Looking at the latest COT report for the week ending May 5th, "open interest was slightly down after a major shift in positions as data shows specs have gone neutral post new-found neutral stance by RBA.