5 May 2014
Auusie claws back ground; 0.9252 low is history
FXStreet (Moscow) - AUD/USD is trying to reverse from the Asian low of 0.9252 reached on the back of poor Australian and Chinese statistics.
Aussie needs more time to make a decision
AUD/USD has been consolidating latterly. The pair finished the week nearly unchanged after two negative weeks in succession. Assuie bears needs to break below 0.9200-0/9190 to claim short-term victory, while the bulls target at 0.9300 resistance. Unexpected drop of Australian building permits coupled with lower than expected Chinese HSBC PMI data pushed AUD/USD to Asian low of 0.9252. But strong demand on approach to this level limited the downside. There are two factors that may play into the hand of Aussie bears: increased risk off sentiments caused by geopolitical factors and worse than forecasted US Manufacturing ISM. On the downside the key supper is seen at 0/9230, while the resistance comes at 0.9280.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9253, with support below at 0.9225, 0.9172 and 0.9154, with resistance above at 0.9306, 0.9334 and 0.9387. Hourly Moving Averages are bearish, with the 200SMA at 0.9279 and the daily 20EMA at 0.9286. Hourly RSI is bearish at 47.
Aussie needs more time to make a decision
AUD/USD has been consolidating latterly. The pair finished the week nearly unchanged after two negative weeks in succession. Assuie bears needs to break below 0.9200-0/9190 to claim short-term victory, while the bulls target at 0.9300 resistance. Unexpected drop of Australian building permits coupled with lower than expected Chinese HSBC PMI data pushed AUD/USD to Asian low of 0.9252. But strong demand on approach to this level limited the downside. There are two factors that may play into the hand of Aussie bears: increased risk off sentiments caused by geopolitical factors and worse than forecasted US Manufacturing ISM. On the downside the key supper is seen at 0/9230, while the resistance comes at 0.9280.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9253, with support below at 0.9225, 0.9172 and 0.9154, with resistance above at 0.9306, 0.9334 and 0.9387. Hourly Moving Averages are bearish, with the 200SMA at 0.9279 and the daily 20EMA at 0.9286. Hourly RSI is bearish at 47.