Basic Analysis of AUD/USD for September 19, 2017 888011000 110888 AUD/USD has actually been making correctional relocations recently with bullish gains. The pair is currently expected to see some bearish pressure in the coming days. AUD has actually been quite weak at the start of the week however today it picked up speed against USD in the middle of favorable economic reports. Today, Australia’s HPI report was released at 1.9%, below the previous value of 2.2% which was anticipated to decrease to 1.2%. Though the report revealed an even worse outcome, it came out much better than anticipated, so the marketplace belief quickly turned bullish and supplied AUD with support. In addition, RBA Monetary Policy Fulfilling Minutes were also launched today where the regulator was quite favorable with the broad job market improvement and GDP growth by 3.0% that directly impacted the USD growth today, causing more corrective gains of AUD. On the other hand, today United States Building Allows report is going to be released which is anticipated to reveal a minor reduction to 1.22 M from the previous figure of 1.23 M, Bank account is expected to reveal a less deficit to -115 B from the previous figure of -117 B, Housing Starts are expected to increase to 1.17 M from the previous figure of 1.16 M, and Import Costs are expected to increase to 0.4% from the previous value of 0.1%. To sum up, United States information in the economic calendar today do not have better projections to search for but any much better than expected real outcome can help USD to gain momentum over AUD spontaneous gain today and result in more bearish pressure in the coming days.Now let uslook at the technical chart. The price is presently residing in a restorative rising channel which was about to break yesterday however the cost bounced off the support of the channel and pushed greater. As there are particular impactful news from the US en route today, an everyday close listed below the channel assistance will lead to bearish pressure in this couple with the target towards the assistance area of 0.7750-0.7830. As the rate stays listed below the resistance level of 0.80, the bearish predisposition is anticipated to continue further. The product has been offered by InstaForex Business-www.instaforex.com

By | September 19, 2017

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