30 Jan 2014
AUD/USD will just have to wait for 0.88?
FXstreet.com (Guatemala) - AUD/USD recently dropped but the 0.8760 level is holding the pair along the ascending support line and that comes with significance after a failing attempt was made at the 0.88 handle.
The pair has been subject to a downside revision of Jan HSBC Markit Manufacturing PMI for China and that had a negative, albeit temporary, impact on AUD/USD which dropped 0.4% to the overnight low of 0.8711. Other results in overnight for Australia which strategists at TD Securities reported were as follows, “Dec HIA New Home Sales MoM (-0.4%, 7.5% prior). Q4 Export Price Index (-0.5%, +4.2% prior); Q4 Import Price Index (-0.6%, +6.1% prior)”. A mixed bag of US data came today; Worse than expected Jobless claims for Jan 24th at 348k against a median forecast of 330k and coupled with a downside miss in GDP with a rise of 3.2%.
AUD/USD Levels
The 20 DMA is 0.8863, the 50 DMA is 0.8952 and the 200 DMA is 0.9302. RSI (14) reads 39.13. Supports are ascending from 0.8623, 0.8633, 0.8660, 0.8706, 0.8728. Spot is 0.8772 while resistances are 0.8800, 0.8826, 0.8858 and 0.8889.
The pair has been subject to a downside revision of Jan HSBC Markit Manufacturing PMI for China and that had a negative, albeit temporary, impact on AUD/USD which dropped 0.4% to the overnight low of 0.8711. Other results in overnight for Australia which strategists at TD Securities reported were as follows, “Dec HIA New Home Sales MoM (-0.4%, 7.5% prior). Q4 Export Price Index (-0.5%, +4.2% prior); Q4 Import Price Index (-0.6%, +6.1% prior)”. A mixed bag of US data came today; Worse than expected Jobless claims for Jan 24th at 348k against a median forecast of 330k and coupled with a downside miss in GDP with a rise of 3.2%.
AUD/USD Levels
The 20 DMA is 0.8863, the 50 DMA is 0.8952 and the 200 DMA is 0.9302. RSI (14) reads 39.13. Supports are ascending from 0.8623, 0.8633, 0.8660, 0.8706, 0.8728. Spot is 0.8772 while resistances are 0.8800, 0.8826, 0.8858 and 0.8889.