Market Update – 9th September 2016 – Aussie Fails Again To Break Through 0.7700

The Aussie dollar has again failed to break through key resistance at 0.7700 vs. the Greenback, bringing to a total of 9 the number of times this month that AUD/USD has not pushed on past 0.7700. Either the charts are a self fulfilling prophecy or fundamentals simply don’t support AUD/USD above 0.7700 – take your pick. Anyway its a good point to finish the week on and with no data released today or tonight in the northern hemisphere it should be business as usual with the Aussie fluttering around the 0.7600 mark vs. the Greenback and and 0.5700 and 0.6700 vs. the Pound and Euro respectively.

DATA RELEASES TODAY:

No economic data released today

AUD EXCHANGE RATES:

AUD/USD – 0.7644

AUD/GBP – 0.5746

AUD/EUR – 0.6783

AUD/NZD – 1.0325

AUD/JPY – 78.297

***Above rates are indicative wholesale rates and intended as a guide only***

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Patrick Downes

Senior Corporate FX Dealer

Compass Markets

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