AUD/USD: 0.7250EUR/USD: 1.0615The US Durable Goods data were better than expected and has prompted the dollar continue its strong run against the EU majors today. Some late profit taking, after the release of mixed Consumer Sentiment and personal spending figures, ahead of the Thanksgiving weekend has limited the damage though and most currency pairs have finished the day not too far from where they started. It should now be fairly quiet ahead of the weekend although today sees the release of the German Provisional CPI (Nov) and the UK Financial Stability Report. Before then, the NZ Trade Balance is due shortly, and then later in Australia, the Capex will be released.
AUDUSD made it up to 0.7282 today before reversing to 0.7227 following the Durable Goods release, and then recovering to finish the US session unchanged, at 0.7250.
Domestically, the Capex is due today and may provide some volatility but otherwise it should be fairly quiet in the absence of the US.
The daily charts still look reasonably positive, and back above the session high could see a run towards 0.7295 (76.4% of 0.7381/0.7015) and to 0.7300. Beyond here seems unlikely, although if wrong, the next realistic targets would be seen at 0.7363 (16 Oct high) and then at 0.7381 (12 Oct high).
If the Aud were to head lower from here, 0.7225 will again provide support ahead of 0.7200 and the Tuesday session low at 0.7185 (0.7180: 38.2% of 0.7015/0.7282). Below this would open the way to the 200 HMA at 0.7165 and then to the 23 Nov low at 0.7158. Further Fibo levels come in at 0.7115 (61.8%) and at 0.7080 (76.4%) although it looks unlikely that we head much below 0.7200 today
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Capex.
Jim LanglandsFX Charts
