Aussie Dollar News – Futures market – BrokersEDGE – DAW Trading 4-24-18

Aussie (June)

Session close: Settled at .7602, down 66 ticks

Fundamentals: The Aussie has gotten throttled over the last three sessions losing 2.3%. Not only has the U.S Dollar strengthened against all major currencies, but it has also weighed tremendously on the commodities sector. The reversal in the Aussie began Wednesday night after a poor Employment read and has continued sharply. The Assistant RBA Governor Kent speaks at 5:00 pm CT and CPI data is due 8:30 pm CT.

Technicals: The Aussie is the only currency that we introduced a slight Bearish Bias in last week. We have been hesitant to do such because of our long-term bearish U.S Dollar thesis, however, the technicals here were just too weak. Price action is now at the lowest level since December and there is nothing between here and major three-star support at .7501. We have now upped our Bearish Bias and will remain such until a close back above .7644.

Bias: Bearish/Neutral

Resistance: 7644***, .7695-.7709**, .7799-.7813***, .7921.7944***

Support: 7501***

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