14 Nov 2013
AUD/USD dips to 0.9330
FXstreet.com (Edinburgh) -The Aussie dollar is trading almost unchanged from yesterday’s close against the greenback, pushing the AUD/USD to test levels around 0.9330.
AUD/USD attention to the US docket
Calendar in Australia was pretty light today, showing that Consumer Inflation Expectations rose 1.9% for the month of October, a tad lower than the previous 2.0% advance. Today’s US docket will take centre stage – trade balance figures and initial claims – followed by Yellen’s confirmation hearing at the Senate Banking Committee. According to Emmanuel Ng, Strategist at OCBC Bank, “The AUD-USD may bump its head at the resistance levels presented by the psychological 0.9400 level and the 55-day MA (0.9402) in the current dollar environment. In addition, a slightly better looking risk appetite environment may also prove supportive on downside dips, with the next support of consequence expected at 0.9300”.
AUD/USD key levels
The pair is now advancing 0.03% at 0.9332 with the next resistance at 0.9368 (high Nov.12) ahead of 0.9393 (high Nov.11) and then 0.9421 (low Nov.1). On the downside, a break below 0.9298 (50% of Aug-Oct) would open the door to 0.9260 (low Nov.12) and finally 0.9223 (low Sep.13).
AUD/USD attention to the US docket
Calendar in Australia was pretty light today, showing that Consumer Inflation Expectations rose 1.9% for the month of October, a tad lower than the previous 2.0% advance. Today’s US docket will take centre stage – trade balance figures and initial claims – followed by Yellen’s confirmation hearing at the Senate Banking Committee. According to Emmanuel Ng, Strategist at OCBC Bank, “The AUD-USD may bump its head at the resistance levels presented by the psychological 0.9400 level and the 55-day MA (0.9402) in the current dollar environment. In addition, a slightly better looking risk appetite environment may also prove supportive on downside dips, with the next support of consequence expected at 0.9300”.
AUD/USD key levels
The pair is now advancing 0.03% at 0.9332 with the next resistance at 0.9368 (high Nov.12) ahead of 0.9393 (high Nov.11) and then 0.9421 (low Nov.1). On the downside, a break below 0.9298 (50% of Aug-Oct) would open the door to 0.9260 (low Nov.12) and finally 0.9223 (low Sep.13).