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12 Dec 2014
AUD/USD completes fifth wave and consolidates
FXStreet (Barcelona) - AUD/USD is trading at 0.8270, having posted a daily high at 0.8282 and low at 0.8260.
AUD/USD is steady and consolidated in the start of Asia and noting the fall out from above the 0.83 handle overnight in the fifth wave count when the greenback was bid across the board on a number of counts. US date came in higher than expected, perhaps due to the oil price filtering through to consumers finally as retail sales picked up in the US.
But the catalyst for the strong dollar came in Europe to begin with as the ECB was injecting less than what had been expected into the economy keeping the Aussie on the back foot with less liquidity or apatite for the carry.
AUD/USD is steady and consolidated in the start of Asia and noting the fall out from above the 0.83 handle overnight in the fifth wave count when the greenback was bid across the board on a number of counts. US date came in higher than expected, perhaps due to the oil price filtering through to consumers finally as retail sales picked up in the US.
But the catalyst for the strong dollar came in Europe to begin with as the ECB was injecting less than what had been expected into the economy keeping the Aussie on the back foot with less liquidity or apatite for the carry.