4 Sep 2013
AUD/USD, altius, citius, fortius up 120 pips so far
FXstreet.com (Chicago) - AUD/USD USD respects upward trendline despite being capped at 2-week 0.9189 highs to accumulate 120 daily pips so far.
Modest results in the US
Fed’s Beige book highlights include a “modest to moderate” pace of growth (mentioned last time), residential estate activity increasing moderately, with modest hiring in most occupations and industries along modest increase in prices and consumer spending. On other news, the Senate panel in the US will meet in one hour to authorize a military strike against the Middle Eastern country. Moreover, Fed’s Williams boiled up the Fed’s tapering concern after stating people should not expect the Fed to raise rates until the second half of 2015 but a potential reduction starting at the end of the year of the bond-buying program with full ending next summer, would be the best procedure. The Fed is meeting next September 17th-18th. In Australia, GDP data outbeat expectations at 2.6% vs. estimates at 2.5%. China’s HSBC services PMI fueled bullish momentum as it was 52.8 vs. past 51.3, uplifting commodity currencies.
AUD/USD Technical Levels
Price action reveals a continuous upward trendline still respected with bullish momentum extension capped at 0.9189 (session highs). The pair maintains high performance to trade at 0.9171 between supports at 0.9133 (August 18th highs), 0.9091 (August 14th lows) ahead of 0.9048 (August 22nd highs) and resistances at 0.9188 (August 15th highs) followed by 0.9233 (August 19th highs), 0.9292 (July 26th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and is offered above the EMA20.
Modest results in the US
Fed’s Beige book highlights include a “modest to moderate” pace of growth (mentioned last time), residential estate activity increasing moderately, with modest hiring in most occupations and industries along modest increase in prices and consumer spending. On other news, the Senate panel in the US will meet in one hour to authorize a military strike against the Middle Eastern country. Moreover, Fed’s Williams boiled up the Fed’s tapering concern after stating people should not expect the Fed to raise rates until the second half of 2015 but a potential reduction starting at the end of the year of the bond-buying program with full ending next summer, would be the best procedure. The Fed is meeting next September 17th-18th. In Australia, GDP data outbeat expectations at 2.6% vs. estimates at 2.5%. China’s HSBC services PMI fueled bullish momentum as it was 52.8 vs. past 51.3, uplifting commodity currencies.
AUD/USD Technical Levels
Price action reveals a continuous upward trendline still respected with bullish momentum extension capped at 0.9189 (session highs). The pair maintains high performance to trade at 0.9171 between supports at 0.9133 (August 18th highs), 0.9091 (August 14th lows) ahead of 0.9048 (August 22nd highs) and resistances at 0.9188 (August 15th highs) followed by 0.9233 (August 19th highs), 0.9292 (July 26th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and is offered above the EMA20.