FXstreet.com (Barcelona) - The 200-day moving average at 1.0278 and the 1.0300 psychological level are keeping the AUD/USD from extending gains on Wednesday. The trading day is seeing higher sentiment on the idea that the ESM can get a banking license. The CPI inflation report in Australia, providing numbers around expectations and targets which postpone chances of monetary easing of the RBA, is also adding to the sentiment.
The pair is now holding around the 200-day MA during the American session after weak new home sales in the US, by -8.4% in June, against rising expectations to 0.8%.
“AUD/USD failed to push above 1.0475, reaching 1.0444, before relapsing back under 1.0300”, wrote MIG Bank analyst Bijoy Kar, expecting a bigger corrective move higher before heading substantially lower.
The pair is now holding around the 200-day MA during the American session after weak new home sales in the US, by -8.4% in June, against rising expectations to 0.8%.
“AUD/USD failed to push above 1.0475, reaching 1.0444, before relapsing back under 1.0300”, wrote MIG Bank analyst Bijoy Kar, expecting a bigger corrective move higher before heading substantially lower.
