USD Trading Outlook (23-02-2015)

AUD/USD A heavy USD and sales in EUR/AUD down to the 1.4390 area had AUD/USD just below 0.7850 into NY’s open. Bulls couldn’t make a serious run at offers in the 0.7850/60 zone and the pair began slipping. The slide accelerated as risk sold-off, option related selling took hold and EUR/AUD rallied back above 1.4520. AUD/USD’s dip hit 0.7811 before buyers emerged. The positive risk sentiment brought on by the Greek headlines then saw the pair approach the day’s high again. AUD/JPY’s rally back above 93.30 helped the lift. late in the day the pair sat just below the session high. With the pair seemingly correlated to general risk sentiment it’s likely traders will cue off the Greek headlines over the weekend for direction. A positive outcome should see the pair make further gains. Outside of the Greek drama the Oz Q4 CAPEX report will be the next big risk for traders.