Daily Trading Analysis by Exness - AUD/USD

[Exness Support]

Daily Trading Signals by Exness - AUD/USD

29.07.2014 9:09 AUDUSD
AUDUSD: pair receives support from S&P agency

Buy on a level breakthrough of 0.9421 with 0.9495 target. Stop loss = 0.9370.

Reason for the trading strategy.

Today, S&P agency confirmed Australia's credit rating at AAA, with a stable outlook. At the moment, the yield spread between 10-year government bonds of Australia and the US is 96 basis points, despite the US being lower on the S&P rating scale: AA+, which makes the nominal yield in investing in Australian bonds higher.

AUDUSD, H4

 

[Exness Support]

31.07.2014 9:09 AUDUSD
AUDUSD: under pressure against a background of deterioration of business activity in Australia's construction sector

Sell on rebound from 0.9330 level with 0.9210 target. Stop loss = 0.9400.

Reason for the trading strategy.

The number of approvals issued for new construction in Australia decreased in June by 5.0% (m/m) after an increase of 10.3% (m/m) in May. The data shows a reduction in business activity in the construction sector. In addition, pressure on the Aussie is being placed by a decrease in the index of goods exported to Australia in the Q2 quarter of 2014 by 7.9% (q/q).

AUDUSD, H4