FXstreet.com (Barcelona) - With Shanghai index opening below fresh new lows since year 2009, Hang-Seng also to the downside by -0.63%, and all local share markets in the red, AUD/USD is currently at 1.0441, off recent fresh weekly lows at 1.0432. After initial optimism yesterday following new deal on Greece debt, the pair reached a fresh 2-month high at 1.0490, but given some uncertainties are still on the way, specially until Dec 13, AUD/USD turned back again to previous weekly lows.
Australia construction work done data for the 3Q was not as good as expected, showing a +1.7% increase when more than 2.4% was the consensus, has not helped either the bid case, as some analysts point to this data as important for next RBA meeting coming in December, with market now pricing in a 60% change of a 25pbs rate cut. Next big risk event for AUD will come tomorrow at 00:30 GMT with Private Capital Expenditure data.
Immediate support to the downside for AUD/USD lies at recent weekly lows 1.0432, followed by Nov 20 highs at 1.0422, and Nov 22 highs at 1.0401. To the upside, closest resistance shows at Nov 14 highs 1.0460, followed by Friday's highs at 1.0471, and yesterday's and fresh 2-month highs at 1.0490.
Australia construction work done data for the 3Q was not as good as expected, showing a +1.7% increase when more than 2.4% was the consensus, has not helped either the bid case, as some analysts point to this data as important for next RBA meeting coming in December, with market now pricing in a 60% change of a 25pbs rate cut. Next big risk event for AUD will come tomorrow at 00:30 GMT with Private Capital Expenditure data.
Immediate support to the downside for AUD/USD lies at recent weekly lows 1.0432, followed by Nov 20 highs at 1.0422, and Nov 22 highs at 1.0401. To the upside, closest resistance shows at Nov 14 highs 1.0460, followed by Friday's highs at 1.0471, and yesterday's and fresh 2-month highs at 1.0490.
