13 May 2014
AUD/USD treads water at Asian low of 0.9349
FXStreet (Moscow) - AUD/USD extended a slow grind to current Asian low at 0.9349 after opening at 0.9361; the movements are slow, but the bearish sentiments prevail
Bears need to be more determined
AUD/USD is hesitant as it is sidelined in a narrow range, limited by 0.9363 on the upside and 0.9349 on the downside. Australian home loans data came out weaker than expected and triggered Aussie sell-off, but the reaction was too weak to get the pair out of the range. Though the sentiments wear a faint bearish scent, we need to see a clear break below Monday’s low of 0.9347 to hope for the downside to be extended to 0.9323 on the intraday basis. Later during the day the US retail sales report might serve as a trigger for the breakthrough if the numbers come out better than expected and drive USD higher across the board.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9365, with support below at 0.9343, 0.9324 and 0.9302, with resistance above at 0.9384, 0.9406 and 0.9425. Hourly Moving Averages are bearish, with the 200SMA at 0.9321 and the daily 20EMA at 0.9313. Hourly RSI is bearish at 39.
Bears need to be more determined
AUD/USD is hesitant as it is sidelined in a narrow range, limited by 0.9363 on the upside and 0.9349 on the downside. Australian home loans data came out weaker than expected and triggered Aussie sell-off, but the reaction was too weak to get the pair out of the range. Though the sentiments wear a faint bearish scent, we need to see a clear break below Monday’s low of 0.9347 to hope for the downside to be extended to 0.9323 on the intraday basis. Later during the day the US retail sales report might serve as a trigger for the breakthrough if the numbers come out better than expected and drive USD higher across the board.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9365, with support below at 0.9343, 0.9324 and 0.9302, with resistance above at 0.9384, 0.9406 and 0.9425. Hourly Moving Averages are bearish, with the 200SMA at 0.9321 and the daily 20EMA at 0.9313. Hourly RSI is bearish at 39.