9 Jul 2014
AUD/USD holding on to 0.9400
FXStreet (Edinburgh) - The Aussie dollar left the area of session highs near 0.9420 and is now driving the AUD/USD to the boundaries of 0.9400 the figure.
AUD/USD mixed by data in Oz, China
Despite the current correction from session highs, spot remains resilient around the 0.9400 handle following softer than expected inflation figures in China and better Consumer Confidence in Oz, according to Westpac. “The AUD-USD may continue to loiter around the 0.9400 neighborhood after firming on the back of a weak dollar overnight. This lull may not last with the FOMC minutes later today while aussie June labor markets are also due tomorrow and China data hits the screens in the latter half of the week. Look for the pair to bounce around in a 0.9340-0.9450 range in the interim”, commented Emmanuel Ng, FX Strategist at OCBC Bank.
AUD/USD levels to watch
At the moment the pair is advancing 0.06% at 0.9405 with the next resistance at 0.9415 (high Jul.8) ahead of 0.9443 (high Jul.3) and then 0.9499 (high Jul.2). On the flip side, a breakdown of 0.9363 (low Jul.8) would aim for 0.9346 (50-d MA) and finally 0.9342 (low Jul.7).
AUD/USD mixed by data in Oz, China
Despite the current correction from session highs, spot remains resilient around the 0.9400 handle following softer than expected inflation figures in China and better Consumer Confidence in Oz, according to Westpac. “The AUD-USD may continue to loiter around the 0.9400 neighborhood after firming on the back of a weak dollar overnight. This lull may not last with the FOMC minutes later today while aussie June labor markets are also due tomorrow and China data hits the screens in the latter half of the week. Look for the pair to bounce around in a 0.9340-0.9450 range in the interim”, commented Emmanuel Ng, FX Strategist at OCBC Bank.
AUD/USD levels to watch
At the moment the pair is advancing 0.06% at 0.9405 with the next resistance at 0.9415 (high Jul.8) ahead of 0.9443 (high Jul.3) and then 0.9499 (high Jul.2). On the flip side, a breakdown of 0.9363 (low Jul.8) would aim for 0.9346 (50-d MA) and finally 0.9342 (low Jul.7).