10 Feb 2014
AUD/USD keeps its head down in Asia
AUD/USD is practically immovable in Asia, as the currency pair is trading close to its opening level at 0.8952 after setting the current low at 0.8937, where the buyers interest is located.
Will the Aussie hold the ground?
AUD/USD was a big winner last week as it gained nearly 200 pips. What a great achievement for the currency that was regarded as a lame duck of the developed world! All of a sudden the RBA decided that the Aussie is weak enough, and that depreciating tendency had a bad impact on price stability. Emerging market storm calmed a bit and that was also Aussie positive. China publishes new loans and money supply data which is highest importance for the Australian economy dependent on export to China. If these reports confirm that the economy of the Asian Dragon is cooling down the Aussie may tumble at least to0.8925 and may be 0.8900. If this support is broken, the pair will accelerate to 0.8875. The resistance at 0.9000 will limit the upside on the intraday level.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8960, with support below at 0.8921, 0.8881 and 0.8842, with resistance above at 0.9000, 0.9039 and 0.9079. Hourly Moving Averages are mixed, with the 200SMA at 0.8954 and the daily 20EMA at 0.8860. Hourly RSI is neutral at 50.
Will the Aussie hold the ground?
AUD/USD was a big winner last week as it gained nearly 200 pips. What a great achievement for the currency that was regarded as a lame duck of the developed world! All of a sudden the RBA decided that the Aussie is weak enough, and that depreciating tendency had a bad impact on price stability. Emerging market storm calmed a bit and that was also Aussie positive. China publishes new loans and money supply data which is highest importance for the Australian economy dependent on export to China. If these reports confirm that the economy of the Asian Dragon is cooling down the Aussie may tumble at least to0.8925 and may be 0.8900. If this support is broken, the pair will accelerate to 0.8875. The resistance at 0.9000 will limit the upside on the intraday level.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8960, with support below at 0.8921, 0.8881 and 0.8842, with resistance above at 0.9000, 0.9039 and 0.9079. Hourly Moving Averages are mixed, with the 200SMA at 0.8954 and the daily 20EMA at 0.8860. Hourly RSI is neutral at 50.