AUDUSD: Reached a high of 0.7835 on Thursday

Jim Langlands FX Charts

Preferred Strategy: The Aud reached a high of 0.7835 on Thursday and is currently near the high and will take its next direction from the China Trade Balance (Exp US$39 bio. Exports +8.8%, Imports + 13.5%) ahead of the US inflation data. Look for a choppy session, but the momentum indicators currently look a little more supportive so buying dips looks to be the way of it. A strong CPI figure from the US, hinting at a Fed rate hike in December, effectively eliminating the Australian yield advantage may see a quick move in the other direction, so caution is warranted.

Economic data highlights will include:

F: Financial Stability Report, China Trade Balance

Author

Jim Langlands

FX Charts

Jim Langlands began his trading career in the commodities markets in London in 1976, before moving to Australia in 1979 to work as a floor trader on the Sydney Futures Exchange.

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