FxWirePro: USD/CAD dips contained, bias still leans higher 
FxWirePro- Major Pair levels and bias summary 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro: USD/ZAR edges higher as South African rand softens after foreign reserves fall 
FxWirePro: EUR/AUD bears maintain upper hand 
FxWirePro:USD/JPY holds bullish bias despite intervention concerns 
FxWirePro:USD/JPY on 162 again, volatility not ruled out 
FxWirePro: GBP/AUD continues to recovers , upside pressure builds 
FxWirePro: GBP/NZD bull’s hold the higher ground, remains on bullish path 
FxWirePro: AUD/USD strengthens as Aussie gains on hawkish RBA remarks 
FxWirePro- Major Pair levels and bias summary 
NZDJPY Holds Steady: Sell on Rallies Amidst Sideways Trading 
Bitcoin Holds Range: Buy the Dips as Bulls Eye $75K Breakout 
FxWirePro- Woodies pivot (Major) 
FxWirePro: USD/ CNY gains some ground but bearish outlook persists 
FxWirePro: USD/CNY hits one week high, outlook bullish 
Australian Dollar is facing selling pressure due weakness of its key exporting commodities such iron ore and coal. Moreover Dollar side of the leg is likely to remain well-bid heading into US Federal Reserve's rate setting meeting mid-December. Despite so, rise is likely in the near term.
Reserve Bank of Australia (RBA) is likely to hold rates for the time being, which can extend beyond first quarter of 2016 and unless further weakness in demand from China. With that outlook on the rate front, Aussie is nice leg to hold for may short term traders to play out policy divergence heading into European Central Bank's (ECB) policy meeting next week.
Moreover, in spite of massive drop in prices of commodities, Australian economy seem to be doing quite well thanks to its stronger serves sector growth and inflation expectations seem to have well anchored for now.
Trade idea
- Buy Aussie against Dollar, since key short term resistance line broken at current price (0.721) and at dips.
- Target for the call is around 0.74 area.
- Stop loss for the trade is around 0.708 area.
