14 Mar 2014
AUD/USD supported at 0.9000
FXStreet (Edinburgh) - The Aussie dollar is testing the 0.9000 critical support on Friday, with the AUD/USD now hovering over 0.9010/15.
AUD/USD retreats from highs
The pair has practically retraced yesterday’s strong upside post-employment data (47.3K act. vs. 18K expected) to levels just above 0.9100 the figure. Tensions around the Crimean peninsula and fears of a slowdown in the Chinese economy continue to weigh on investors at the end of the week. “The AUD continues to act as a proxy for China's financial and economic risks. This is making for mixed and whippy price action as renewed fears in China battle against recent signs of economic recovery in Australia. The AUD has remained largely unchanged over the last month, and it remains difficult to assess near term direction”, commended Greg Gibbs, FX Strategist at RBS.
AUD/USD key levels
The pair is now down 0.23% at 0.9010 and a breach of 0.8930 (50-d MA) would expose 0.8923 (low Mar.12) and finally 0.8909 (low Mar.4). On the flip side, the initial resistance aligns at 0.9135 (high Mar.7) ahead of 0.9152 (high Dec.11) and then 0.9155 (200-d MA).
AUD/USD retreats from highs
The pair has practically retraced yesterday’s strong upside post-employment data (47.3K act. vs. 18K expected) to levels just above 0.9100 the figure. Tensions around the Crimean peninsula and fears of a slowdown in the Chinese economy continue to weigh on investors at the end of the week. “The AUD continues to act as a proxy for China's financial and economic risks. This is making for mixed and whippy price action as renewed fears in China battle against recent signs of economic recovery in Australia. The AUD has remained largely unchanged over the last month, and it remains difficult to assess near term direction”, commended Greg Gibbs, FX Strategist at RBS.
AUD/USD key levels
The pair is now down 0.23% at 0.9010 and a breach of 0.8930 (50-d MA) would expose 0.8923 (low Mar.12) and finally 0.8909 (low Mar.4). On the flip side, the initial resistance aligns at 0.9135 (high Mar.7) ahead of 0.9152 (high Dec.11) and then 0.9155 (200-d MA).