More Weak Housing Data for the AUD/USD

The AUD/USD has been battling the 0.7200 level for some time now and at the moment it is losing the battle.

And then today there was more negative news on the state of the Aussie housing market that is bound to weigh on things going forward.

The most recent home load data is pointing to another decrease. For the month it was down -0.9% a fall from 2.2%. This showing that loans are falling to go along with the price of houses.

There was also a recent report out suggesting that Australia will have one of the weakest markets in the world in 2019, with falls of 10% expected.

This is really weighing on sentiments and will likely be a drag on the AUD/USD going forward.

Aussie Outlook

The AUD/USD is holding below the major level at 0.7200 .around 0.25%.

The key support below is 0.7050 and then 0.7000.

0.7300 is R2 and the most recent highs sitting at 0.7400.

ABOUT THE AUTHOR See More

Rowan Crosby

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

AUD/USD Likely to Head to 0.60 As Hawkish RBA Gains Fade

2 weeks ago

Save

Forex Signals Brief April 1: Euro Inflation and US Manufacturing for Fool's Day

2 weeks ago

Save

AUD/USD Gains on Tax Cuts but Struggles as Inflation Slows

3 weeks ago

Save

Comments

0 0 votes

Article Rating

Subscribe

Login

Notify of

new follow-up commentsnew replies to my comments

Please login to comment

0 Comments

Oldest

Newest Most Voted

Inline Feedbacks

View all comments