6 Mar 2014
AUD/USD rallies onto 0.90 handle
FXStreet (Guatemala) - AUD/USD has been grinding higher on the bid but has now spiked up onto the 0.90 handle and score a high, so far, of 0.9035 post positive data from the Australian economy.
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.
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 52.08. Supports are ascending from 0.8873, 0.8891, 0.8909, 0.8933. Spot is 0.9022 while resistances are 0.9050 and 0.9087.
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.
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 52.08. Supports are ascending from 0.8873, 0.8891, 0.8909, 0.8933. Spot is 0.9022 while resistances are 0.9050 and 0.9087.