6 Mar 2014
AUD/USD consolidating close to 0.9000
FXStreet (Guatemala) - AUD/USD has been grinding higher on the bid and is opening in positive territory into the Asian markets.
Today will be picking up for the pair, as for Australia, January trade figures are released along with January retail sales. Strategists at RBS said, “Despite weaker than expected capital expenditure figures, fourth quarter GDP came in stronger than expected and the more forward looking data have largely outperformed expectations. That combined with the weaker CNY loosening financial conditions in China on the margin may mean the market is currently too bearish on AUD. RBA Governor Stevens will testify before the House Economics Committee on Friday local time and we expect the Governor to refrain from sounding any added alarm on the strength of the currency compared to the March meeting statement released this week, which called the AUD high by historical standards”.
AUD/USD Levels
The 20 DMA is 0.8985, the 50 DMA is 0.8911 and the 200 DMA is 0.9176. RSI (14) reads 62.08. Supports are ascending from 0.8873, 0.8891, 0.8909, 0.8933. Spot is 0.8988 while resistances are 0.9007, 0.9026, 0.9050 and 0.9087.
Today will be picking up for the pair, as for Australia, January trade figures are released along with January retail sales. Strategists at RBS said, “Despite weaker than expected capital expenditure figures, fourth quarter GDP came in stronger than expected and the more forward looking data have largely outperformed expectations. That combined with the weaker CNY loosening financial conditions in China on the margin may mean the market is currently too bearish on AUD. RBA Governor Stevens will testify before the House Economics Committee on Friday local time and we expect the Governor to refrain from sounding any added alarm on the strength of the currency compared to the March meeting statement released this week, which called the AUD high by historical standards”.
AUD/USD Levels
The 20 DMA is 0.8985, the 50 DMA is 0.8911 and the 200 DMA is 0.9176. RSI (14) reads 62.08. Supports are ascending from 0.8873, 0.8891, 0.8909, 0.8933. Spot is 0.8988 while resistances are 0.9007, 0.9026, 0.9050 and 0.9087.