• AUDUSD- Fails to handle the descending trendline
  • AUDJPY- Cross closed below 100SMA’s for the first time after October-2016
  • AUDNZD-Closed below 20Dsma for the first-time after Feb,08-17
  • AUDCAD- Today’s Canada CPI is the upcoming risk event to the cross. The cross breakdown the 2-month ascending trendline.
  • GBPAUD- Erased the 3-month bearish channel. 61.8 fib seems at 1.6430 (Jan-Mar fall)

Following RBA’s housing market concern A$ changed the direction grinding down across the board. On Thursday’s session AUD down more than a percent against GBP and nearly 1% against JPY.

RBA minutes of March Board meeting revealed, ”risks associated with the housing market”. The minute’s statement sounding concerns about housing risk and labour market conditions.

Housing Concern-Recent data continued to suggest that there had been a build-up of risks associated with the housing market.

Borrowing for housing by investors had picked up over recent months and growth in household debt had been faster than that in household income.

Week ahead:

  • Local data-New home sales (Mar 30) and Private sector credit (Mar31)
  • China- Manufacturing PMI (Mar31)
  • Speeches- Speech by Guy Debelle, Deputy Governor, at the FX Week Australia conference, Sydney 28 March 2017, 9.00 am AEDT

Due to lack of local and China high-risk event market participants focus to Reserve Bank Board Meeting – Monetary Policy Decision 4 April 2017, 2.30 pm AEST.

AUDUSD- Trading down for three straight sessions, low made at 0.7622 (Mar23) 20&50Dsma junction finds at 0.7620 and 100sma on four-hour chart finds at 0.7615 below this 0.7590 61.8 fib (0.7490-0.770 rally) exists. Resistance seems at 0.7650, 0.7700 and 0.7750

AUDJPY- The cross closed below 100SMA’s for the first time after October-2016. The cross made a low at 84.35 (Mar23) nearest support finds at 83.70 (Dec 29 th low) and 83.60 200Dema exists. The 20Msma finds at 83.00 and 200Msma finds at 82.30 levels.  Resistance seems at 85/85.15, 85.80 and 86.60

AUDNZD- The cross rejected at 200Wema last week, closed below 20Dsma for the first-time after Feb,08-17. Today (Mar24) on Asia session the cross rejected at 20Dsma trading at 1.0840 down marginally.  Support 1.0815/1.08, 1.0760/1.0740 and 1.0690. Resistance seems at 1.0900, 10970 and 1.1015. Earlier breakout zone finds between 1.0740/1.0760 levels below this 1.0610/1.0580 exists.

AUDCAD- The cross closed below 20Dsma, for the first time after this Jan, 10. Today’s Canada CPI is the upcoming risk event to the cross. The cross breakdown the 2-month ascending trendline. Like AUDNZD the cross likely to re-test the earlier breakout level finds between 1.0097 and 1.0090 below this 1.0070 exists. Deeper correction expected 0.9980/0.9950 if bulls fail to handle 50Dsma. Resistance seems at 1.0200 and 1.0270 levels.

GBPAUD- The cross printed the strongest week after seven weeks manages to settle above 50Dsma for the first time after this Jan-09. The cross erased three month bearish pattern on the daily chart. The 61.8 fib (Jan-Mar fall) seem at 1.6430 as of now high made at 1.6420 above this 100Dsma’s seems between 1.65 and 1.6540.