27 Mar 2014
AUD/USD off highs, around 0.9230
FXStreet (Edinburgh) - The Aussie dollar is now deflating from session highs near 0.9245 vs. the greenback, dragging the AUD/USD back to the 0.9235/30 region.
AUD/USD upside sentiment intact
The pair keeps the bid tone above the 0.9200 handle on Thursday, propped up by the recent upbeat comments by the RBA and the prevailing risk-on trade in the global markets. “In light of what appears to be a significant oversold position, a stable outlook for rates in Australia, more confident RBA, a lack of genuine financial stress in China, hope of further stimulus in China, it is quite possible that the AUD does reach .95”, observed Greg Gibbs, FX Strategist at RBS.
AUD/USD key levels
At the moment the pair is up 0.15% at 0.9240 with the next resistance at 0.9300 (psychological level) followed by 0.9335 (high Nov.21) and finally 0.9403 (50-d MA). On the downside, a breakdown of 0.9137 (200-d MA) would target 0.9120 (low Mar.25) en route to 0.9100 (psychological level).
AUD/USD upside sentiment intact
The pair keeps the bid tone above the 0.9200 handle on Thursday, propped up by the recent upbeat comments by the RBA and the prevailing risk-on trade in the global markets. “In light of what appears to be a significant oversold position, a stable outlook for rates in Australia, more confident RBA, a lack of genuine financial stress in China, hope of further stimulus in China, it is quite possible that the AUD does reach .95”, observed Greg Gibbs, FX Strategist at RBS.
AUD/USD key levels
At the moment the pair is up 0.15% at 0.9240 with the next resistance at 0.9300 (psychological level) followed by 0.9335 (high Nov.21) and finally 0.9403 (50-d MA). On the downside, a breakdown of 0.9137 (200-d MA) would target 0.9120 (low Mar.25) en route to 0.9100 (psychological level).