The focus in today’s Asian session will be on the speech to be given by Reserve Bank of Australia (RBA) Governor Glenn Stevens at 3:30 AM GMT. Read more >>
Official Chinese figures and data from HSBC showed a slight increase in the country's Manufacturing Purchasing Managers' Index (PMI) in March. Read more >>
The AUD/CAD pair has recently bounced from a hammer on Tuesday as it runs higher. We feel that this could be the start of something special, and especially so if we can close above 1.03 on a daily candle. We certainly are not interested in selling at this area anymore, as the support is so evident. The AUD/USD pair finds itself in a consolidation area between 1.01 and 1.04. The pair will have to contend with the 1.05 area as well to the upside, and parity to the down side. Because of this, we feel this market will be choppy and sloppy as range bound trading could continue. We become larger buyers above the 1.05 mark. Play video >>
The AUD/USD has fallen yet again on Monday as the world's market react to the debt issues in the United States and Europe. The pair is falling hard, and has even managed to fall into the 1.01-1.02 support zone. If this area doesn't hold up as support, we are more than likely going to fall to 0.95 or so. After that - much, much farther. AUD/CAD is a battle between two commodity currencies. The oil markets are falling, yet the CAD is still gaining against the Aussie. The parity level is within our sites, and the area should end up being some kind of support. If not - this pair falls hard. The Tuesday session could be crucial in determining the future direction for the Aussie. We don't recommend trading the AUD until AFTER this session completes as we can look at what has happened, and perhaps get a clue on the next several months in Oz. Play video >>
The AUD/USD is starting to form a fairly bearish pattern, but is still sitting above the current massive support at 1.05 or so...The AUD/CAD looks weak Play video >>
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