Market Analysis – 12.10.2013

By December 10, 2013Analysis

Chart of The Day: AUDUSD D1 Chart

The Aussie picked up a little more on the USD overnight but it’s about to be tested by the descending trendline and 0.9200 round number. This will be a 3rd touch of the prevailing trendline, so I expect it to head south after testing the level. Of course I would need to see a price action entry signal to get in on the action.

audusd-d1-12102013

In The News:

Euro Rises on Longest Streak in A Year Before French Factory Orders (Bloomberg)

The Canadian Dollar Advanced for a Fourth Day on Commodities Rally (Bloomberg)

Econ Events

03:00pm NZD Official Cash Rate
03:00pm NZD RBNZ Press Conference
03:00pm NZD RBNZ Rate Statement
07:10pm NZD RBNZ Gov Wheeler Speaks
07:30pm AUD Employment Change
07:30pm AUD Unemployment Rate

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