USD Trading Outlook (28-10-2014)

AUD/USD traders continue to show lack of conviction as AUD gets more attention on the crosses. AUD/USD held to basically a 0.8790/0.8820 range for Europe & NY. With AUD bid vs. EUR & USD while being offered vs. NZD & JPY traders feel it’s best to not get overly aggressive taking AUD/USD views. Lack of premier Oz data is also a factor keeping the ranges tight. Tomorrow may see some activity as US data ramps up with Sep durable good and Oct consumer confidence. Then the Fed meeting on Wed is the next big risk. Until then AUD/USD likely sticks to the 0.8720/0.8860 range for now. A break of the broader 0.8640/0.8900 range is likely needed to really wake up the AUD/USD market