11 Jul 2014
AUD/USD struggles below 0.9400
FXStreet (Moscow) - AUD/USD is trying to recover from the Asian lows at 0.9376, but it has managed to climb only to 0.9388 so far.
Below 0.9400 but still fighting
AUD/USD managed to recover from Thursday’s lows of 0.9360, reached on the back of mixed to negative labour market report, but the short-term sentiments remain bearish. Credit numbers published earlier today proved that the Australian economy is not as strong as one might hope for. Political tensions with China add fuel to the fire as Australian economy is highly dependent on export to the Middle Kingdom. Later during the day Aussie may recover some losses on the back of week end profit taking and general USD sentiments, though the upside correction is likely to be capped by 0.9400 resistance, as there are strong offers with stops located around that level.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9405, with support below at 0.9350, 0.9306 and 0.9251, with resistance above at 0.9449, 0.9504 and 0.9548. Hourly Moving Averages are mostly neutral with the 200SMA at 0.9400 and the daily 20EMA at 0.9392. Hourly RSI is bullish at 51.
Below 0.9400 but still fighting
AUD/USD managed to recover from Thursday’s lows of 0.9360, reached on the back of mixed to negative labour market report, but the short-term sentiments remain bearish. Credit numbers published earlier today proved that the Australian economy is not as strong as one might hope for. Political tensions with China add fuel to the fire as Australian economy is highly dependent on export to the Middle Kingdom. Later during the day Aussie may recover some losses on the back of week end profit taking and general USD sentiments, though the upside correction is likely to be capped by 0.9400 resistance, as there are strong offers with stops located around that level.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9405, with support below at 0.9350, 0.9306 and 0.9251, with resistance above at 0.9449, 0.9504 and 0.9548. Hourly Moving Averages are mostly neutral with the 200SMA at 0.9400 and the daily 20EMA at 0.9392. Hourly RSI is bullish at 51.