TRADING TIPS :
- Forex -Euro steady against dollar, yen after CPI, jobs reports
- Forex -Forex – Pound hits fresh 1-1/2 month lows vs. stronger dollar
- Forex -Bitcoin rises for first time in 6 days after hitting 1-month low
AUD/USD hit 0.9307 during early European trade, the session low; the pair subsequently consolidated at 0.9318, slipping 0.13%.The pair was likely to find support at 0.9258, the low of June 5 and resistance at 0.9388, Wednesday’s high.Official data showed that building approvals in Australia dropped 5.0% last month, compared to expectations for a 2.0% decline. Building approvals for May were revised to an increase of 10.3% from a previously estimated 9.9% rise.A separate report showed that Australia’s import prices fell 3.0% in the second quarter, after a 3.2% rise in the three months to April. Analysts had expected import prices to drop 1.3% in the last quarter
In U.S. trading, EUR/USD was down 0.23% at 1.3378, up from a session low of 1.3367 and off a high of 1.3416. The pair was likely to find support at 1.3318, the low from Nov. 8, and resistance at 1.3444, Tuesday’s high. The Commerce Department reported earlier that gross domestic product expanded at an annual rate of 4.0% in the three months to June, blowing past forecasts for a 3.0% reading. The contraction in the first quarter was revised to 2.1% from a previously reported 2.9%.Personal consumption grew 2.5%, well above predictions of 1.9%, the report said, adding to the view that the economic recovery is gaining traction.Investors kept an eye towards the Federal Reserve, which was due to release its statement on interest rates and monetary policy later in the day.
1. Buy AUD/USD Above 0.9357 TG: 0.9377/ 0.9407 SL 0.9327
2. Sell AUD/USD Below 0.9271- TG: 0.9251/0.9221 SL 0.9301