Lawrence Villamar

The EU plan has potentially stamped a bottom on risk assets and traders will be focused only the long side for the moment. Any pullbacks are likely to be bought with 1.0620 to 1.6405 seen as the potential support zone.

The Australian Dollar fell for a third consecutive day yesterday, the longest losing streak against its US Counterpart in six weeks.

New week, and as we start the week’s trading, the focus will be on whether markets start to focus on the potential for a rate cut from the RBA this week. If so, we could see a break below 1.0650 as the trigger for sellers. However, the long-term bias remains to the upside and any RBA-induced weakness will be seen as a chance for buyers later in the week.

After an extended rally on Friday evening the Australian Dollar consolidated well in early morning trade reaching an eventual high of 1.0715 against its US Counterpart.

New week, and as we start the week’s trading, the focus will be on whether markets start to focus on the potential for a rate cut from the RBA this week. If so, we could see a break below 1.0650 as the trigger for sellers. However, the long-term bias remains to the upside and any RBA-induced weakness will be seen as a chance for buyers later in the week.

Nothing is ever a "straight line higher" and the Aussie succumbed to this theory during trade on Friday after a 3-cent rally the previous session.

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The EU plan has potentially stamped a bottom on risk assets and traders will be focused only the long side for the moment. Any pullbacks are likely to be bought with 1.0620 to 1.6405 seen as the potential support zone.

The Australian dollar has rallied an impressive 3.2% over the past 24hrs to highs above 1.0700 after a detailed plan to combat the European debt crisis finally emerged

The Aussie was sent lower by yesterday’s CPI low numbers that suggest a rate cut next week is now much more likely. However, the Aussie found clear support at 1.0320 and this means the bulls will stay in control until we see a break below that level.

Fears of an RBA rate cut at next week’s central bank meeting sent the Australian Dollar lower yesterday, the catalyst being worse than expected quarterly CPI data.

The Aussie has pulled back toward support at 1.0380. Today‟s CPI at 11.30 is crucial. The market is expecting 0.6% for the quarter. The market currently believes we have a good chance of 25 bps cut over the next few months, but any more than that is unlikely. So, the risk is to the upside. A higher than expected result will see the Aussie surge.

The Australian dollar has continued to slide from highs earlier this week near 1.0500 as nerves grip the markets ahead of this evening’s summit of European leaders.

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An easing in the growth of producer prices for the September quarter had little impact on the Australian Dollar as investors remain focused on overseas events.

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The Aussie closed strongly on Friday night and this is suggestive of a bullish tone to the week. A pullback towards 1.0200 could be seen as a medium-term buying opportunity. Apart from the EU’s plans, sentiment this week will be driven by inflation numbers due today at 11.30am and Wednesday. High readings make rate cuts unlikely.

The Australian Dollar has held onto recent gains remarkably well as little relief came from the first of two scheduled meetings between the Euro-zone’s finance ministers

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As per yesterday’s report, the major downtrend line is providing key resistance just above 1.0300 while horizontal resistance at 1.0370 will also cause problems for the bulls. A clear break of 1.0370 will see buying interest.

The Australian Dollar staged a feeble rally to a high of 1.0260 onshore yesterday as it settled from the previous evening’s fall.

We’ve used a daily chart today to illustrate the downtrend line intersecting around 1.0375 and this indicates why the AUD/USD is having trouble at these higher levels. For now, a retracement back to 1.0100 is likely to be seen as a buying opportunity.

The Australian Dollar made considerable headway against its US Counterpart throughout local trade yesterday, passing through the 1.03 level for the third time in a week, reaching an eventual high of 1.0352 late in Asian trade.