23 Jun 2014
AUD/USD capped by 0.9450
FXStreet (Edinburgh) - The Aussie dollar keeps the upper band of the intraday range, with the AUD/USD meandering between 0.9430 and 0.9450.
AUD/USD boosted by Chinese data
Absent data releases in Oz today, market participants looked at the better-than-expected Chinese manufacturing PMI tracked by HSBC as the trigger for the current bull run to levels just shy of ytd highs near 0.9460 (April 10th). “We retain our supported stance for the pair in the current environment of still sanguine risk appetite levels and the ongoing search for yield and any northward departure from the 0.9400 handle may point towards 0.9450/60, and the 55-day MA (0.9330) should support on shallow dips”, assessed Emmanuel Ng, FX Strategist at OCBC Bank.
AUD/USD levels to consider
At the moment the pair is up 0.57% at 0.9442 and a surpass of 0.9461 (high Apr.10) would target 0.9544 (high Nov.6) and finally 0.9624 (high Oct.25). On the downside, the initial support lines up at 0.9368 (low Jun.23) ahead of 0.9323 (50-d MA) and then 0.9322 (low Jun.18).
AUD/USD boosted by Chinese data
Absent data releases in Oz today, market participants looked at the better-than-expected Chinese manufacturing PMI tracked by HSBC as the trigger for the current bull run to levels just shy of ytd highs near 0.9460 (April 10th). “We retain our supported stance for the pair in the current environment of still sanguine risk appetite levels and the ongoing search for yield and any northward departure from the 0.9400 handle may point towards 0.9450/60, and the 55-day MA (0.9330) should support on shallow dips”, assessed Emmanuel Ng, FX Strategist at OCBC Bank.
AUD/USD levels to consider
At the moment the pair is up 0.57% at 0.9442 and a surpass of 0.9461 (high Apr.10) would target 0.9544 (high Nov.6) and finally 0.9624 (high Oct.25). On the downside, the initial support lines up at 0.9368 (low Jun.23) ahead of 0.9323 (50-d MA) and then 0.9322 (low Jun.18).