17 Jun 2014
AUD/USD lower for now…
FXStreet (Guatemala) - AUD/USD is trading at 0.9334, down -0.70% on the day, having posted a daily high at 0.9406 and low at 0.9329.
AUD/USD has been pressured to the down post the overnight offers in Asia and has just possibly lost the opportunity to reclaim the 0.94 handle anytime soon without there being much else left on the calendar except for the FOMC this week, which if Dovish could turn the greenback back onto its head. Meanwhile, AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
AUD/USD turnaround approaching?
RBS strategists explained that the “Reserve Bank of Australia Minutes were relatively dovish in noting that the currency remains historically high "particularly given the further decline in commodity prices over the past month". Clearly, RBA has no New Zealand style tightening anywhere in sight with policy rates probably on hold now for a few more months. Multi month strategically we're AUD bears. But next one month view, AUD/USD higher”.
AUD/USD Levels
Spot is presently trading at 0.9335, and next resistance can be seen at 0.9338 (Daily 20 SMA), 0.9344 (Weekly Classic S1), 0.9352 (Daily Classic S2), 0.9357 (Hourly 20 EMA) and 0.9369 (Hourly 200 SMA). Support below can be found at 0.9332 (Daily Classic S3), 0.9329 (Daily Low), 0.9285 (Weekly Classic S2), 0.9238 (Weekly Classic S3) and 0.9222 (Monthly Low).
AUD/USD has been pressured to the down post the overnight offers in Asia and has just possibly lost the opportunity to reclaim the 0.94 handle anytime soon without there being much else left on the calendar except for the FOMC this week, which if Dovish could turn the greenback back onto its head. Meanwhile, AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
AUD/USD turnaround approaching?
RBS strategists explained that the “Reserve Bank of Australia Minutes were relatively dovish in noting that the currency remains historically high "particularly given the further decline in commodity prices over the past month". Clearly, RBA has no New Zealand style tightening anywhere in sight with policy rates probably on hold now for a few more months. Multi month strategically we're AUD bears. But next one month view, AUD/USD higher”.
AUD/USD Levels
Spot is presently trading at 0.9335, and next resistance can be seen at 0.9338 (Daily 20 SMA), 0.9344 (Weekly Classic S1), 0.9352 (Daily Classic S2), 0.9357 (Hourly 20 EMA) and 0.9369 (Hourly 200 SMA). Support below can be found at 0.9332 (Daily Classic S3), 0.9329 (Daily Low), 0.9285 (Weekly Classic S2), 0.9238 (Weekly Classic S3) and 0.9222 (Monthly Low).