15 Jan 2014
AUD/USD heading towards the 0.86 handle?
FXstreet.com (Guatemala) - AUD/USD has offers around 0.8920 which are keeping the pair on route for lower lows along the descending resistance line.
AUD/USD will be in focus tonight when Asia comes in with the Unemployment Rate and employment Change data after the US delivers the Beige Book. The release of Australia’s Dec labour data will provide further information of how the economy was faring into the end of 2013. Jane Foley, Senior Currency Strategist at Rabobank explained, however, “Even good data are likely to be tempered by concerns over China. While we have maintained for some time the view that the RBA is unlikely to cut rates again this cycle (household debt growth is a concern), we expect the tone of the AUD to remain nervous and see scope for AUD/USD to edge lower towards the 0.86 area later this year”.
AUD/USD Levels
The 20 DMA is 0.8923, the 50 DMA is 0.9083 and the 200 DMA is 0.9388. RSI (14) reads 47.80 . Supports are ascending from 0.8770, 0.8820, 0.8834, 0.8864. Spot is 0.8911 while resistances are 0.8956, 0.8971, 0.9009 and 0.9045.
AUD/USD will be in focus tonight when Asia comes in with the Unemployment Rate and employment Change data after the US delivers the Beige Book. The release of Australia’s Dec labour data will provide further information of how the economy was faring into the end of 2013. Jane Foley, Senior Currency Strategist at Rabobank explained, however, “Even good data are likely to be tempered by concerns over China. While we have maintained for some time the view that the RBA is unlikely to cut rates again this cycle (household debt growth is a concern), we expect the tone of the AUD to remain nervous and see scope for AUD/USD to edge lower towards the 0.86 area later this year”.
AUD/USD Levels
The 20 DMA is 0.8923, the 50 DMA is 0.9083 and the 200 DMA is 0.9388. RSI (14) reads 47.80 . Supports are ascending from 0.8770, 0.8820, 0.8834, 0.8864. Spot is 0.8911 while resistances are 0.8956, 0.8971, 0.9009 and 0.9045.