9 May 2014
AUD/USD awaits RBA policy statement
FXStreet (Guatemala) - AUD/USD is trading at 0.9363, down -0.12% on the day, having posted a daily high at 0.9378 and low at 0.9356.
AUD/USD has been boosted of late by another positive Australian Employment outcome followed closely after with a beat on China’s Trade Balance saw the AUD as the standout performer amongst the G10 +0.5% vs the USD, noted startegists at TD Securities. “The employment report for April contained many pleasant elements (1) last month’s surprise +18.2k was revised up to +22k; (2) annual employment growth remains healthy at +0.9%/yr (3) employment growth of +14.2k was all full-time; and (4) the unemployment rate remained at 5.8% the bottom of the market range of 5.8-6.1%”. Coming up, we have the RBA’s update to GDP and CPI projections along with the quarterly Statement on Monetary Policy>. The strategists at TD Securities said “Mkts expect lower near-term CPI forecasts back to 2-3%”.
AUD/USD Levels
Spot is presently trading at 0.9364, and next resistance can be seen at 0.9372 (Hourly 20 EMA), 0.9374 (Daily Classic R2), 0.9375 (Daily Open), 0.9375 (Weekly High) and 0.9378 (Daily High). Support below can be found at 0.9356 (Daily Low), 0.9351 (Daily Classic R1), 0.9334 (Daily Classic PP), 0.9330 (Weekly Classic R1) and 0.9326 (Hourly 100 SMA).
AUD/USD chart formations
Regarding candlestick formations, we can see Doji formation on the 4-hour.
AUD/USD has been boosted of late by another positive Australian Employment outcome followed closely after with a beat on China’s Trade Balance saw the AUD as the standout performer amongst the G10 +0.5% vs the USD, noted startegists at TD Securities. “The employment report for April contained many pleasant elements (1) last month’s surprise +18.2k was revised up to +22k; (2) annual employment growth remains healthy at +0.9%/yr (3) employment growth of +14.2k was all full-time; and (4) the unemployment rate remained at 5.8% the bottom of the market range of 5.8-6.1%”. Coming up, we have the RBA’s update to GDP and CPI projections along with the quarterly Statement on Monetary Policy>. The strategists at TD Securities said “Mkts expect lower near-term CPI forecasts back to 2-3%”.
AUD/USD Levels
Spot is presently trading at 0.9364, and next resistance can be seen at 0.9372 (Hourly 20 EMA), 0.9374 (Daily Classic R2), 0.9375 (Daily Open), 0.9375 (Weekly High) and 0.9378 (Daily High). Support below can be found at 0.9356 (Daily Low), 0.9351 (Daily Classic R1), 0.9334 (Daily Classic PP), 0.9330 (Weekly Classic R1) and 0.9326 (Hourly 100 SMA).
AUD/USD chart formations
Regarding candlestick formations, we can see Doji formation on the 4-hour.