26 May 2015
AUD/USD bears held up at hourly SMA 5
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7737 with a high of 0.7840 and a low of 0.7727.
AUD/USD bears have been helped along on today's US data ahead of Capex later on this week, and are held up at SMA 5 on the hourly sticks. "All eyes will be on services investment intentions, where for 2015/16 we look for an upgrade from last quarter’s -7% estimate to flat now, given the lower AUD and lower borrowing costs. Overall the report should buy the RBA more time to pause a 2.00%, supporting the AUD," - explained analysts at TD Securities. Meanwhile, we await RBA Deputy Governor Lowe Speech in today's Asian session and new homes sales for the US and Reuters/Michigan Consumer Sentiment Index (Apr) later in the week.
Technically, 0.7500 acts as the major support zone through the congestion on the way down from here with SMA 50 on the hurly acting as a resistance level at 0.7808. Through here, however, Kare Jones, chef analyst at Commerzbank suggested that intraday rallies are now indicated to terminate circa 0.7935/55, guarding the 0.8160 recent high.
AUD/USD bears have been helped along on today's US data ahead of Capex later on this week, and are held up at SMA 5 on the hourly sticks. "All eyes will be on services investment intentions, where for 2015/16 we look for an upgrade from last quarter’s -7% estimate to flat now, given the lower AUD and lower borrowing costs. Overall the report should buy the RBA more time to pause a 2.00%, supporting the AUD," - explained analysts at TD Securities. Meanwhile, we await RBA Deputy Governor Lowe Speech in today's Asian session and new homes sales for the US and Reuters/Michigan Consumer Sentiment Index (Apr) later in the week.
Technically, 0.7500 acts as the major support zone through the congestion on the way down from here with SMA 50 on the hurly acting as a resistance level at 0.7808. Through here, however, Kare Jones, chef analyst at Commerzbank suggested that intraday rallies are now indicated to terminate circa 0.7935/55, guarding the 0.8160 recent high.