4 Mar 2014
AUD/USD; A slow burn to the upside
FXStreet (Guatemala) - AUD/USD has been a slow play while bigger news is takes the spot light away from the pair.
Strategists at TD Securities explained ,“Risk aversion has eased this following reports that Russian troops on exercises near Ukraine have been ordered back to base. Additionally, President Putin said there was no need to send troops into Ukraine “yet” but called the situation in Kiev an “unconstitutional coup… US 10 year yields have pushed back to 2.65% and equity markets are in the green for the session so far” Meanwhile, the RBA left policy on hold at yesterdays meeting (but resumed the commentary on the AUD, noting the currency remained high by historical standards). The Q4 current account deficit narrowed to -AUD10.1bn (-12.5bn in Q3).
AUD/USD Levels
The 20 DMA is 0.8983, the 50 DMA is 0.8911 and the 200 DMA is 0.9179. RSI (14) reads 57.65. Support are ascending from 0.8770, 0.8821, 0.8873 and 0.8891. Spot is 0.8950while resistances are 0.8975, 0.8990, 0.9026 and 0.9050.
Strategists at TD Securities explained ,“Risk aversion has eased this following reports that Russian troops on exercises near Ukraine have been ordered back to base. Additionally, President Putin said there was no need to send troops into Ukraine “yet” but called the situation in Kiev an “unconstitutional coup… US 10 year yields have pushed back to 2.65% and equity markets are in the green for the session so far” Meanwhile, the RBA left policy on hold at yesterdays meeting (but resumed the commentary on the AUD, noting the currency remained high by historical standards). The Q4 current account deficit narrowed to -AUD10.1bn (-12.5bn in Q3).
AUD/USD Levels
The 20 DMA is 0.8983, the 50 DMA is 0.8911 and the 200 DMA is 0.9179. RSI (14) reads 57.65. Support are ascending from 0.8770, 0.8821, 0.8873 and 0.8891. Spot is 0.8950while resistances are 0.8975, 0.8990, 0.9026 and 0.9050.