11 Jun 2013
AUD/USD back below 0.9400
FXstreet.com (Barcelona) - The bearish sentiment continues to punish the Aussie dollar on Tuesday, now leaving behind the key support at 0.9400 after and posting fresh lows around 0.9370/75.
Data wise, Home Loans in the domestic economy rose 0.8% in April, below consensus at 2.0%, and the NAB Business Confidence bettered to -1 in May vs. -2 previous. “These data don’t send a strong signal to push the RBA either way so we keep looking at the currency as a signpost on future rate changes”, assessed Adrian Foster, Strategist at Rabobank.
The AUD/USD is now losing 0.92% at 0.9377 with the next support at 0.9330 (high Jan. 2010). On the upside, a break above 0.9628 (resistance line) would expose0.9792 (high Jun.3) and then 0.9842 (high May 21).
Data wise, Home Loans in the domestic economy rose 0.8% in April, below consensus at 2.0%, and the NAB Business Confidence bettered to -1 in May vs. -2 previous. “These data don’t send a strong signal to push the RBA either way so we keep looking at the currency as a signpost on future rate changes”, assessed Adrian Foster, Strategist at Rabobank.
The AUD/USD is now losing 0.92% at 0.9377 with the next support at 0.9330 (high Jan. 2010). On the upside, a break above 0.9628 (resistance line) would expose0.9792 (high Jun.3) and then 0.9842 (high May 21).