8 May 2014
AUD/USD consolidates early gains at 0.9370
FXStreet (Moscow) - AUD/USD retreated from Asian high at 0.9375 reached after better than expected labor market data, and settled at 0.9365.
Another rush higher
Now that all interesting Australian reports are behind us, the Aussie might extend the retreat, if AUD/USD breaks below 0.9350 on the intraday basis. From the fundamental point of view market focus has shifted to the US Weekly Jobless Claims data and Fed speakers at Bank Regulation Congress in Chicago. Though they are unlikely to contradict their boss, Yellen, we may get some more evidence that the American economy will stay on life support for some time. This may put USD under pressure across the board.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9334, with support below at 0.9411, 0.9294 and 0.9271, with resistance above at 0.9451, 0.9474 and 0.9491. Hourly Moving Averages are bullish, with the 200SMA at 0.9288 and the daily 20EMA at 0.9295. Hourly RSI is bullish at 65.
Another rush higher
Now that all interesting Australian reports are behind us, the Aussie might extend the retreat, if AUD/USD breaks below 0.9350 on the intraday basis. From the fundamental point of view market focus has shifted to the US Weekly Jobless Claims data and Fed speakers at Bank Regulation Congress in Chicago. Though they are unlikely to contradict their boss, Yellen, we may get some more evidence that the American economy will stay on life support for some time. This may put USD under pressure across the board.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9334, with support below at 0.9411, 0.9294 and 0.9271, with resistance above at 0.9451, 0.9474 and 0.9491. Hourly Moving Averages are bullish, with the 200SMA at 0.9288 and the daily 20EMA at 0.9295. Hourly RSI is bullish at 65.