12 May 2014
AUD/USD moves toward 0.9400
FXStreet (Córdoba) - The AUD/USD has advanced modestly Monday helped by good April NAB business confidence released during the Asian session.
Australia's business confidence measured by NAB rose to 6 points in April from 4 last month, while the employment component rose from -1 to 0. The AUD/USD rose to its highest level in 4 days at 0.9385, but lack of momentum has kept the pair well below the 0.9400 mark. If the Aussie rises above 0.9393, it will be trading at its strongest in a month.
AUD/USD technical levels
The AUD/USD is currently quoting at 0.9380, up 0.26% on the day, with immediate resistances lining up at 0.9393 (May 8 high), 0.9425 (Apr 11 high) and 0.9460 (Apr 10 high). On the flip side, supports are seen at 0.9346 (May 9 low), 0.9315 (10-day SMA) and 0.9300 (psychological level).
Australia's business confidence measured by NAB rose to 6 points in April from 4 last month, while the employment component rose from -1 to 0. The AUD/USD rose to its highest level in 4 days at 0.9385, but lack of momentum has kept the pair well below the 0.9400 mark. If the Aussie rises above 0.9393, it will be trading at its strongest in a month.
AUD/USD technical levels
The AUD/USD is currently quoting at 0.9380, up 0.26% on the day, with immediate resistances lining up at 0.9393 (May 8 high), 0.9425 (Apr 11 high) and 0.9460 (Apr 10 high). On the flip side, supports are seen at 0.9346 (May 9 low), 0.9315 (10-day SMA) and 0.9300 (psychological level).