3 Jan 2014
AUD/USD breaking out of supporting channel
FXstreet.com (London) - AUD/USD is making a move to the downside post disappointing readings from China’s Non Manufacturing PMI (Dec) where the number read 54.6 vs 56 previous.
AUD/USD has been a slow grind lower on the 5 minute chart while it had been supported by 0.8900 the figure until the pair broke away and tested into 0.8885 the low. Coupled with a disappointing reading from China, the US data from earlier in the sessions from the manufacturing sector there has also put some optimism into the Greenback ahead of the next FOMC meeting. The ISM manufacturing printed yet another strong number and is consistent to an on going taper. The Fed is widely expected to continue with its tapering programme at forthcoming FOMC meetings.
AUD/USD Levels
The 20 DMA is 0.8955, the 50 DMA is 0.9184 and the 200 DMA is 0.9455. RSI (14) reads 38.86. Supports are currently 0.8737, 0.8770, 0.8820, 0.8834. Spot is currently 0.8888 with resistances at 0.8953, 0.8964, 0.8970 and 0.8989.
AUD/USD has been a slow grind lower on the 5 minute chart while it had been supported by 0.8900 the figure until the pair broke away and tested into 0.8885 the low. Coupled with a disappointing reading from China, the US data from earlier in the sessions from the manufacturing sector there has also put some optimism into the Greenback ahead of the next FOMC meeting. The ISM manufacturing printed yet another strong number and is consistent to an on going taper. The Fed is widely expected to continue with its tapering programme at forthcoming FOMC meetings.
AUD/USD Levels
The 20 DMA is 0.8955, the 50 DMA is 0.9184 and the 200 DMA is 0.9455. RSI (14) reads 38.86. Supports are currently 0.8737, 0.8770, 0.8820, 0.8834. Spot is currently 0.8888 with resistances at 0.8953, 0.8964, 0.8970 and 0.8989.