23 Jul 2014
AUD/USD keeps pushing higher, near 0.9450
FXStreet (Edinburgh) - The Aussie dollar is extending its upside momentum on Wednesday, lifting the AUD/USD to 2-week highs around 0.9450.
AUD/USD boosted by CPI
Higher consumer prices in the Australian economy during the second quarter (3.0% act. vs. 2.9% prev.) boosted the AUD in early trade, advancing to fresh 2-week highs and extending the bounce off recent lows around 0.9310. “Expect an initial ceiling to materialize towards 0.9450 and then at 0.9475. Elsewhere, we are increasingly constructive towards firmer AUD-NZD prospects, especially if the RBNZ ‘disappoints’ late Wednesday”, noted Emmanuel Ng, FX Strategist at OCBC Bank.
AUD/USD levels to watch
The pair is now up 0.56% at 0.9447 with the next resistance at 0.9459 (high Jul.10) ahead of 0.9499 (high Jul.2) and finally 0.9505 (high Jul.1). On the downside, a break below 0.9361 (low Jul.22) would open the door to 0.9356 (50-d MA) and then 0.9336 (low Jul.18).
AUD/USD boosted by CPI
Higher consumer prices in the Australian economy during the second quarter (3.0% act. vs. 2.9% prev.) boosted the AUD in early trade, advancing to fresh 2-week highs and extending the bounce off recent lows around 0.9310. “Expect an initial ceiling to materialize towards 0.9450 and then at 0.9475. Elsewhere, we are increasingly constructive towards firmer AUD-NZD prospects, especially if the RBNZ ‘disappoints’ late Wednesday”, noted Emmanuel Ng, FX Strategist at OCBC Bank.
AUD/USD levels to watch
The pair is now up 0.56% at 0.9447 with the next resistance at 0.9459 (high Jul.10) ahead of 0.9499 (high Jul.2) and finally 0.9505 (high Jul.1). On the downside, a break below 0.9361 (low Jul.22) would open the door to 0.9356 (50-d MA) and then 0.9336 (low Jul.18).