AUD News

The total value of construction work done in Australia in the second quarter of 2017 was up a seasonally adjusted 9.3 percent on quarter in the second three months of 2017, the Australian Bureau of Statistics said on Wednesday - coming in at A$51.669 billion.

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Private capital expenditure in Australia expanded a seasonally adjusted 0.8 percent on quarter in the second three months of 2017, the Australian Bureau of Statistics said on Thursday - standing at A$28.275 billion.

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Private capital expenditure in Australia was up a seasonally adjusted 0.8 percent on quarter in the second three months of 2017, the Australian Bureau of Statistics said on Thursday - coming in at A$28.275 billion.

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AUDUSD failed to break below 0.7866 support and moved sideways in a trading range between 0.7866 and 0.7995. As long as 0.7866 support holds, the sideways movement could be treated as consolidation of the uptrend from 0.7807 and further rise to test 0.8065 resistance is still possible after the consolidation. On the downside, a breakdown below 0.7866 support will indicate that the upside movement from 0.7807 had completed at 0.7995 already, then the following downside movement could bring price to 0.7700 area.

Australia's gross domestic product expanded a seasonally adjusted 0.8 percent on quarter in the second quarter of 2017, the Australian Bureau of Statistics said on Wednesday.

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The total number of home loans in Australia climbed a seasonally adjusted 2.9 percent on month in July, the Australian Bureau of Statistics said on Friday - coming in at 56.464.

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AUDUSD remains in the uptrend from 0.7807, the fall from 0.8124 is likely consolidation of the uptrend. Near term support is located at the bullish trend line on the 4-hour chart. As long as the price is above the trend line, the upside movement could be expected to continue and next target would be at 0.8162. On the downside, a clear break below the trend line support could take price back to next support level at 0.7960, only break below this level could indicate that the bullish movement from 0.7807 is complete.

Consumer confidence in Australia spiked in September, the latest survey from Westpac Bank and the Melbourne Institute revealed on Wednesday.

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AUDUSD stays in a bullish price channel on its 4-hour chart and remains in the uptrend from 0.7807. As long as the price is in the channel, the pullback from 0.8124 could be treated as consolidation of the uptrend. Near term resistance is at 0.8050, a break above this level would indicate that the uptrend has resumed, then further rise to test 0.8124 previous high resistance is possible. The key support is at 0.7955, a breakdown below this level would confirm that the upside movement had completed at 0.8124 already, then the following downside movement could bring price back towards 0.7807.

House prices in Australia climbed 1.9 percent on quarter in the second three months of 2017, the Australian Bureau of Statistics said on Tuesday.

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