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Message: [QUOTE="titanfx, post: 87254, member: 33464"] [b]AUDUSD Under Bearish Pressure[/b] [B]Key Highlights[/B] • Aussie Dollar managed to climb higher recently against the US Dollar, but sellers managed to defend the upside. • AUDUSD remains under bearish pressure and it is likely to continue trading lower. • Australian Building Permits released by the Australian Bureau of Statistics declined by 8.2% in June 2015, which was a lot more than the market expected. • Australian export price index fell by 4.4% in Q2 2015, more than the forecast of -4%. [B]Australian Building Permits[/B] Earlier during the Asian session, the Australian Building Permits report, which shows the number of permits for new construction projects was released by the Australian Bureau of Statistics. The market was expecting a decrease of 0.8% in June 2015, compared with the preceding month. However, the outcome was below the forecast, as the Australian Building Permits declined by 8.2%. [B]AUDUSD Technical Analysis[/B] The AUDUSD pair traded higher Intraday after setting a short-term bottom around 0.7250. However, the pair found hurdles around an important bearish trend line on the hourly chart, which stalled gains in the near term. Moreover, the 200 hourly simple moving average is also aligned with the highlighted trend line, which is adding to the bearish pressure on the pair. However, on the other hand, the 100 hourly SMA is providing support on the downside. [IMG]http://s7.postimg.org/khlywc3mj/AUDUSD_07_30_2015.png[/IMG] ------------------------------------------- [B][I]Posted by Aayush Jindal - 'Titan FX Currency Analyst'[/I][/B] [/QUOTE]

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