AUD/USD pops higher on Capex but still looking heavy

FXstreet.com (Barcelona) – The AUD/USD foreign exchange rate is last quoted near session highs at 0.8971 rallying on better than expected Australia Capex data showing an increase of +4% when -1% was the consensus.

AUD/USD some upward correction probable

According to Valeria Bednarik, Chief Analyst at Fxstreet.com the AUD/USD maintains “the overall bearish trend against the dollar. The hourly chart shows price above a bearish 20 SMA and indicators heading slightly higher around their midlines, which suggest some probable upward correction, moreover if local share markets also see some gains. In the 4 hours chart however, price is well …read more