In today’s trading the Australian dollar exchange rate seems to have decreased significantly. Aussie weakened after retail sales data in the month of December has decreased the unexpected. Sluggish retail sales figures which resulted in increasingly strong possibility that the central bank will lower Australia or RBA rate cut at tomorrow’s meeting.

December retail sales in Australia fell by 0.1% compared to November period. Retail sales figure is an unexpected decline. Previous estimates that it expects retail sales to increase by 0.2%. This condition is enough to make the Australian dollar experienced selling pressure.

Aussie on the day it was trading at 1.0715 dollars a position. Australia’s currency was significantly decreased compared to the closing position of the end of trading last week at 1.0777 dollars. Friday the Australian dollar had soared to the highest position since the date of August 2, 2011 at 1.0795.

Fxbom.com Analysts estimate that the Australian dollar movement will likely further decline in trading today. Australian dollar is expected to experience movement in the range 1.0650 – 1.0750 dollars.

In trading this morning the Australian dollar exchange rate seems likely to move retreat. Aussie eroded after briefly reaching the highest position in six months. Retreat that occurred this morning tend to be technical and quite reasonable because the currency has been strengthened quite sharply.

Although moving the correction, the trend is bullish the Australian dollar against the U.S. dollar is still quite intact. Aussie currently not logged into the overbought area that breaks down the Australian dollar is not expected to last too then.

The weakening Australian dollar today is also chiefly fueled by speculation that the RBA will cut rates this month. RBA will announce a policy of setting interest rates on 7 February and is expected to do the cutting.

Today the Australian dollar was at 1.0687 dollars a position, weaker than the close of trading positions early this morning at 1.0705 dollars. Last night the Australian dollar had jumped sharply to 1.0575 dollars reached a position which is also the highest position since last August 4.

fxbom.com Analysts look for today’s aussie potentially corrected. Aussie will test the level of support – resistance in the range 1.0630 – 1.0750 dollars.

Although the release of data from Australia tend to vary, but the impetus gained from Asian stock markets provide an opportunity for the Australian dollar to continue the improvement (2.2). Data is growing healthy trade balance surplus. While housing permits fell in the month of December.

Data surplus trade balance for December recorded an increase until it reaches the level of 1.71 billion dollars. The surplus rose compared to a surplus in the previous November, is also greater than the estimate.

Meanwhile, the data permit the construction of houses in December experienced a decline in the unexpected. Compared to November, the permit is reduced by 1%. In the meantime predictions expect further increase of 2.1%.

Aussie in today’s trading position was observed at 1.0749 dollars. The Australian dollar looks stronger position than the position of the close of trading this morning at the level of 1.0705 dollars. The position of the Australian dollar is currently at once became the highest since Oct. 27.

Fxbom.com Analysts estimate that the movement of the Australian dollar in today’s trading will tend to rise further. It seems that the positive sentiment in Asian markets will strengthen the movement of the Australian dollar strengthened. It is estimated that the Australian dollar will try to test the support-resistance levels in the range of 1.0700 area – 1.0820 dollars.

In today’s trading the euro exchange rate seems to have a healthy rise against the U.S. dollar. The euro moved up to two days in a row in the middle of the return of confidence in the improving global economic conditions, including the euro area. Release the global manufacturing sector activity data yesterday showed a fairly uniform growth, including in Germany.

U.S. manufacturing sector experienced the fastest growth to the level in seven months. While China’s manufacturing data is also recorded strong. Germany experienced its first growth in the manufacturing sector after four months of contraction.

Today the euro observed are at 1.3194 dollars. The position of the euro is an increase compared to its closing level of trade early this morning who are in the position of 1.3161 dollars. Last night the euro tumbled sharply to reach its lowest level since January 25 last, but managed to move a rebound.

Fxbom.com Analysts estimate that the movement of the euro in trading today will likely experience a continued rise. It seems that the positive sentiment in Asian markets will strengthen the movement of the euro meguat. It is estimated that the euro will try to test the support-resistance levels in the range 1.3100 – 1.3250 dollars.

Signal EUR/USD

• BUY EUR/USD @ 1.3050
  
• TP 1.3200
  
• SL Not Set