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Aussie lower in a less eventful Wednesday's session

Wednesday, Feb 11 2015
Despite rather good Home Loans figures Aussie was pushed lower in the course of European part of today's session and is currently being traded around 0.7740 area. It seems that pair is likely to go lower since it was unable to break decisively above 0.78 handle in the past few sessions. Markets are still being influenced by last week's RBA rate cut and better than forecasted NFP figures.
 
Earlier today, from Australia Westpac Consumer Confidence data was released. The Westpac Melbourne Institute Index of Consumer Sentiment increased by 8% in February from 93.2 in January to 100.7 in February. It represents the first time since February last year that we have seen a majority (albeit miniscule) of optimists over pessimists. It is also the highest level of the Index since January last year.
 
Pair is likely to find support around 0.77 and resistance above 0.7790 level. There will be no major data releases in the US session so we can expect steadier rest of the session.
 
More in this category: « Sterling higher in an uneventful European part of the session Eurogroup failed to reach agreement on Greek bailout »

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