16 Jun 2014
AUD/USD supported at 0.9380
FXStreet (Edinburgh) - Today’s decline of the Aussie dollar seems to have found decent support around the 0.9380 area, with the AUD/USD now keeping the lower band of the intraday range at 0.9385/80 so far.
AUD/USD keeps an eye on China, US rates
The pair is coming down from overnight peaks near 0.9420, as a generalized risk-off tone is prevailing in the markets. Nothing of note data-wise in Oz, although markets’ focus will be on tomorrow’s RBA minutes and Chinese Foreign Direct Investment figures. “The AUD and other higher yield currencies may continue to firm provided global financial conditions remain easy, and China manages to control excesses in its financial sector without inducing significant spill-overs to onshore term interest rates and other financing channels. However, the upside for AUD may be contained as commodity prices continue to fall and US interest rates rise from low levels”, noted Greg Gibbs, FX Trading Strategist at RBS.
AUD/USD key levels
At the moment the pair is losing 0.21% at 0.9381 with the next support at 0.9376 (low Jun.13) ahead of 0.9348 (high Jun.12) and then 0.9330 (low Jun.9). On the flip side, a surpass of 0.9427 (high Jun.13) would open the door to 0.9438 (high Jun.12) and finally 0.9461 (high Apri.10).
AUD/USD keeps an eye on China, US rates
The pair is coming down from overnight peaks near 0.9420, as a generalized risk-off tone is prevailing in the markets. Nothing of note data-wise in Oz, although markets’ focus will be on tomorrow’s RBA minutes and Chinese Foreign Direct Investment figures. “The AUD and other higher yield currencies may continue to firm provided global financial conditions remain easy, and China manages to control excesses in its financial sector without inducing significant spill-overs to onshore term interest rates and other financing channels. However, the upside for AUD may be contained as commodity prices continue to fall and US interest rates rise from low levels”, noted Greg Gibbs, FX Trading Strategist at RBS.
AUD/USD key levels
At the moment the pair is losing 0.21% at 0.9381 with the next support at 0.9376 (low Jun.13) ahead of 0.9348 (high Jun.12) and then 0.9330 (low Jun.9). On the flip side, a surpass of 0.9427 (high Jun.13) would open the door to 0.9438 (high Jun.12) and finally 0.9461 (high Apri.10).