25 Sep 2013
AUD/USD supply short lived at 0.9360 ahead of key support
FXstreet.com (London) - AUD/USD supply was short-lived when the pair found a bounce at 0.9360 ahead of the 100 DMA and critical level.
The price action in the pair hasn’t translated into any real challenge of the downside supports yet and the pair maintains a footing in 0.9360/80 territory. The main news of late has been with the RBA describing household risk appetite. A risk factor that the bulls would consider is the RBA voicing concerns over a stronger Aussie dollar. From the calendar for the US we have seen US New Home Sales (MoM) (Aug) printed 0.421M vs 0.420M consensus. While the change came in at 7.9% MoM. We will await for tomorrows data as well, with GDP, jobs numbers and yet more speeches from FOMC members.
AUD/USD Levels
The 20 DMA is 0.9248, the 50 DMA is 0.9153 and the 200 DMA is 0.9847. 100 DMA is 0.9324 and could act as a key level to the downside. RSI (14) reads 43.94. Supports are ascending from 0.9223, 0.9271, 0.9285, 0.9330. Spot is currently 0.9373 while resistances are 0.9459, 0.9503, 0.9530 and 0.9574.
The price action in the pair hasn’t translated into any real challenge of the downside supports yet and the pair maintains a footing in 0.9360/80 territory. The main news of late has been with the RBA describing household risk appetite. A risk factor that the bulls would consider is the RBA voicing concerns over a stronger Aussie dollar. From the calendar for the US we have seen US New Home Sales (MoM) (Aug) printed 0.421M vs 0.420M consensus. While the change came in at 7.9% MoM. We will await for tomorrows data as well, with GDP, jobs numbers and yet more speeches from FOMC members.
AUD/USD Levels
The 20 DMA is 0.9248, the 50 DMA is 0.9153 and the 200 DMA is 0.9847. 100 DMA is 0.9324 and could act as a key level to the downside. RSI (14) reads 43.94. Supports are ascending from 0.9223, 0.9271, 0.9285, 0.9330. Spot is currently 0.9373 while resistances are 0.9459, 0.9503, 0.9530 and 0.9574.