AUD/USD better bid on a weaker greenback

Currently, AUD/USD is trading at 0.7184, up 0.02% on the day, having posted a daily high at 0.7190 and low at 0.7168.

AUD/USD is better bid with a test of the 20 sma on the 1hr sticks on a weaker dollar in thin trade while investors and participants have taken the time out with positioned squared until 2017. 2017 is scheduled to bring us Trump and the potential of rate hikes from the Fed fuelling a strong dollar theme for the start of the year. The RBA could also be one to watch given the recent downturn in the economy and the potential of a more dovish stance from the Central Bank and a divergence from the Fed supporting risk to the downside.

Wall Street gives back some Xmas season gains in thin liquidity

AUD/USD levels

With spot trading at 0.7184, we can see next resistance ahead at 0.7184 (Hourly 20 EMA), 0.7185 (Daily Classic PP), 0.7190 (Daily High), 0.7193 (Hourly 100 SMA) and 0.7196 (Daily Classic R1). Support below can be found at 0.7183 (Daily Open), 0.7175 (Monthly Low), 0.7175 (Weekly Low), 0.7170 (Daily Classic S1) and 0.7168 (Daily Low).