22 Aug 2013
AUD/USD recovers from lows, around 0.8990
FXstreet.com (Edinburgh) -The bearishness around the Aussie dollar is back. The recent sell-off in high-beta and the comm-bloc currencies dragged the AUD/USD lower, breaching the psychological support at 0.9000.
AUD/USD boosted by Chinese data
Yesterday’s FOMC minutes intensified the selling pressure via a stronger greenback although the pair managed to gather pace and bounced off lows sub 0.8940 on better-than-expected Chines manufacturing PMI, a tad above the 50 threshold. “With USD sentiment stronger again and equities jittery, AUD/USD seems vulnerable near term, with no obvious support ahead of 0.8900”, commented Sean Callow, Strategist at Westpac.
AUD/USD levels to watch
At the moment the pair is up 0.19% at 0.8986 and a surpass of 0.9068 (high Aug.21) would expose 0.9119 (MA30d) and finally 0.9200 (psychological level). On the downside, the initial support lies at 0.8972 (low Aug 8) ahead of 0.8944 (high Aug.5) and then 0.8932 (low Aug.21).
AUD/USD boosted by Chinese data
Yesterday’s FOMC minutes intensified the selling pressure via a stronger greenback although the pair managed to gather pace and bounced off lows sub 0.8940 on better-than-expected Chines manufacturing PMI, a tad above the 50 threshold. “With USD sentiment stronger again and equities jittery, AUD/USD seems vulnerable near term, with no obvious support ahead of 0.8900”, commented Sean Callow, Strategist at Westpac.
AUD/USD levels to watch
At the moment the pair is up 0.19% at 0.8986 and a surpass of 0.9068 (high Aug.21) would expose 0.9119 (MA30d) and finally 0.9200 (psychological level). On the downside, the initial support lies at 0.8972 (low Aug 8) ahead of 0.8944 (high Aug.5) and then 0.8932 (low Aug.21).