7 Apr 2014
Bears waltz AUD/USD round to new lows of 0.9270
FXStreet (Moscow) - AUD/USD traders have woken up to push the Aussie lower to 0/9270 from the opening level of 0.9282 during Asian session.
Employment data is in focus now
Aussie returned to the upper side of the recent channel at it closed at 0.9290 on Friday after opening at 0.9228. On weekly basis AUD/USD gained about 50 pips and thad the third positive week in a row. Traders seem to respect 0.9200 support and 0.9300 resistance before they get new evidence that the Australian economy is strong enough to weather the slowdown in China. AiG Performance of Construction Index grew to 46.2 in March from 44.2 in February. But the markets turned a blind eye to this news as much more interesting macroeconomic report - employment data - is scheduled later this week. On the intraday basis the Aussie will be influenced by US Dollar sentiments. The key levels to watch: 0.9297-0.9300 on the upside and 0.9250 with minor demand on approach on the downside.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9275, with support below at 0.9239, 0.9187 and 0.9151, with resistance above at 0.9323, 0.9363 and 0.9416. Hourly Moving Averages are bullish, with the 200SMA at 0.9239 and the daily 20EMA is bullish at 0.9161. Hourly RSI is neutral at 65.
Employment data is in focus now
Aussie returned to the upper side of the recent channel at it closed at 0.9290 on Friday after opening at 0.9228. On weekly basis AUD/USD gained about 50 pips and thad the third positive week in a row. Traders seem to respect 0.9200 support and 0.9300 resistance before they get new evidence that the Australian economy is strong enough to weather the slowdown in China. AiG Performance of Construction Index grew to 46.2 in March from 44.2 in February. But the markets turned a blind eye to this news as much more interesting macroeconomic report - employment data - is scheduled later this week. On the intraday basis the Aussie will be influenced by US Dollar sentiments. The key levels to watch: 0.9297-0.9300 on the upside and 0.9250 with minor demand on approach on the downside.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9275, with support below at 0.9239, 0.9187 and 0.9151, with resistance above at 0.9323, 0.9363 and 0.9416. Hourly Moving Averages are bullish, with the 200SMA at 0.9239 and the daily 20EMA is bullish at 0.9161. Hourly RSI is neutral at 65.