8 Apr 2014
AUD/USD challenges 0.9300
FXStreet (Edinburgh) - The bullish momentum in the Aussie dollar remains intact on Tuesday, lifting the AUD/USD to the 0.9295/0.9300 area.
AUD/USD bounces off 0.9250
The pair is now at shouting distance from the spike post-Payrolls to the vicinity of 0.9310, coming up from Monday’s lows around 0.9250. Data-wise, Business Conditions gauged by NAB bettered to 1 in March from 0 in the previous month while Business Confidence slowed to 4 from February’s 7. “Risk appetite considerations may potentially figure slightly more prominently in the near term with markets also mulling reports from the Chinese media ruling out a large stimulus package. In the interim, 0.9300 remains unchallenged on the upside while support towards 0.9200/30 may provide temporary support”, observed Emmanuel Ng, Strategist at OCBC Bank.
AUD/USD levels to consider
As of writing the pair is advancing 0.24% at 0.9293 and a break above 0.9300 (psychological level) would open the door to 0.9308 (high Apr.4) and finally 0.9310 (high Apr.1). On the downside, the immediate support aligns at 0.9225 (low Apr.4) ahead of 0.9155 (low Mar.26) and then 0.9139 (200-d MA).
AUD/USD bounces off 0.9250
The pair is now at shouting distance from the spike post-Payrolls to the vicinity of 0.9310, coming up from Monday’s lows around 0.9250. Data-wise, Business Conditions gauged by NAB bettered to 1 in March from 0 in the previous month while Business Confidence slowed to 4 from February’s 7. “Risk appetite considerations may potentially figure slightly more prominently in the near term with markets also mulling reports from the Chinese media ruling out a large stimulus package. In the interim, 0.9300 remains unchallenged on the upside while support towards 0.9200/30 may provide temporary support”, observed Emmanuel Ng, Strategist at OCBC Bank.
AUD/USD levels to consider
As of writing the pair is advancing 0.24% at 0.9293 and a break above 0.9300 (psychological level) would open the door to 0.9308 (high Apr.4) and finally 0.9310 (high Apr.1). On the downside, the immediate support aligns at 0.9225 (low Apr.4) ahead of 0.9155 (low Mar.26) and then 0.9139 (200-d MA).