22 Jan 2014
AUD/USD eases to 0.8840
FXstreet.com (Edinburgh) - The Aussie dollar is now giving away earlier gains, dragging the AUD/USD to retest the area around 0.8840/45 after hitting peaks near 0.8890.
AUD/USD consolidating above 0.8800
Domestic consumer prices much higher than forecasts this morning prompted investors to buy the AUD, quickly surpassing the 0.8800 handle and posting fresh weekly highs near 0.8890. In light of today’s price action, strategists at BBH commented, “It ran out of steam near the initial retracement target (~$0.8885) of the slide from the move to almost $0.9100 on January 13 and in front of the 20-day moving average (~$0.8900). Above here, additional resistance is seen in the $0.8920-60 band. Initial support is pegged in the $0.8820-40 area”.
AUD/USD key levels
As of writing the pair is advancing 0.40% at 0.8844 with the next resistance at 0.8915 (high Jan.16) followed by 0.8971 (high Jan.15) and then 0.9015 (MA50d). On the flip side, a break below 0.8775 (low Jan.21) would aim for 0.8756 (low Jan.20) and finally 0.8737 low Jul.22 2010).
AUD/USD consolidating above 0.8800
Domestic consumer prices much higher than forecasts this morning prompted investors to buy the AUD, quickly surpassing the 0.8800 handle and posting fresh weekly highs near 0.8890. In light of today’s price action, strategists at BBH commented, “It ran out of steam near the initial retracement target (~$0.8885) of the slide from the move to almost $0.9100 on January 13 and in front of the 20-day moving average (~$0.8900). Above here, additional resistance is seen in the $0.8920-60 band. Initial support is pegged in the $0.8820-40 area”.
AUD/USD key levels
As of writing the pair is advancing 0.40% at 0.8844 with the next resistance at 0.8915 (high Jan.16) followed by 0.8971 (high Jan.15) and then 0.9015 (MA50d). On the flip side, a break below 0.8775 (low Jan.21) would aim for 0.8756 (low Jan.20) and finally 0.8737 low Jul.22 2010).