The AUD/USD Still Battling 0.7200: Strong Trade Balance - FX Leaders News
The AUD is Weak

The AUD/USD Still Battling 0.7200: Strong Trade Balance

Posted Thursday, September 6, 2018 by
Rowan Crosby • 1 min read

The AUD/USD has had a pretty active week to say the least. We’ve had retail sales which were weak, then a boring RBA update.

Yesterday’s GDP started making some news headlines, with many suggesting the strong print is a sign of the economy turning the corner.

While the AUD/USD jumped on the print, we are now back around the 0.7200 level. Albeit, still higher than where we were yesterday.

Today’s trade balance data has come out positive with a slight beat at 1.55B. This didn’t move the AUD/USD too much as it is only second-tier data to be fair.


Aussie Outlook

The AUD/USD is still around the major level at 0.7200. So the battle continues for another day.

Given the fact that the USD fell and the AUD/USD had very positive news. To finish around the 0.7200 really isn’t a sign of strength in my opinion.

So with that in mind, I will still be looking to sell spikes higher in the AUD/USD at this stage.

If the USD can bounce back, expect the AUD/USD to outpace the USD to the downside.

AUD/USD – 240min.
Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Rowan Crosby is our Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
Related Articles

Leave a Reply

Notify of