AUDUSD: The Aussie dollar rallies higher post unexpected rate cut to the RBA target interest rate from 2.75% to 2.50% in its August meeting. The AUDUSD is also posting a new weekly high at the open of early European session. Bias remains to the downside as long as we are below .9036, while selling strength is the preferred strategy. Target objectives are at 0.8900, followed by 0.8887 and the weekly low at 0.8846. A move above .0936 would target next 0.9088 and .9125.
EURUSD: The EURUSD continues its consolidation between 1.3200 and 1.3300 in recent daily price action. Weekly Bias for the pair remains to the upside as long as we are above the Friday low at 1.3186. A move below that level would negate our outlook and turn bias to the downside. Target objective for the pair are at 1.3300 initially, followed by 1.3343 and 1.3415. Support is at 1.3230 followed by 1.3187.
Crude Oil: CL coming off the monthly highs posted on the Aug 2nd at 108.74. Crude oil posted a negative day yesterday, closing lower for a 3rd consecutive day. Weekly bias is moderately bearish with target objectives at 105.05 followed by 104.10 and 102.20. A break above 107.40 would target next 108.77.