Back
6 Aug 2014
AUD/USD is sitting at 0.9300; bears are nervous
FXStreet (Moscow) - AUD/USD bears are doing their best to get the pair below 0.9300 support, the pair dipped to 0.9290 earlier in Asia, but quickly returned to the above said pivotal level.
New clues are wanted
RBA announced its rate decision together with economic and inflation forecasts yesterday. No one fell of their chairs as everything was left unchanged, which means that the central bank is rather positive about the economy despite descent dismal macroeconomic reports and lower commodity prices curtail for Australian economy. The next interesting piece of news from Australia is labour market report (published on Thursday) that turned out to be unexpectedly weaker on July, and RBA minutes on Friday. These are potential game changers for Aussie as another tepid labour market report or dovish flavor of the minutes might inspire Aussie bears for a sustained trip to the South. Until that time AUD/USD will live by USD rules. Thus on the intraday basis, keep your eyes peeled for US trade balance report and follow overall USD sentiments. The short-term downside might be limited by 0.9290, though once it is broken, the pair will slide to 0/9275. The upside is capped by 0.9345.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9314, with support below at 0.9284, 0.9262 and 0.9232, with resistance above at 0.9336, 0.9366 and 0.9388. Hourly Moving Averages are bearish with the 200SMA bearish at 0.9352 and the daily 20EMA bearish at 0.9363. Hourly RSI is bearish at 36.
New clues are wanted
RBA announced its rate decision together with economic and inflation forecasts yesterday. No one fell of their chairs as everything was left unchanged, which means that the central bank is rather positive about the economy despite descent dismal macroeconomic reports and lower commodity prices curtail for Australian economy. The next interesting piece of news from Australia is labour market report (published on Thursday) that turned out to be unexpectedly weaker on July, and RBA minutes on Friday. These are potential game changers for Aussie as another tepid labour market report or dovish flavor of the minutes might inspire Aussie bears for a sustained trip to the South. Until that time AUD/USD will live by USD rules. Thus on the intraday basis, keep your eyes peeled for US trade balance report and follow overall USD sentiments. The short-term downside might be limited by 0.9290, though once it is broken, the pair will slide to 0/9275. The upside is capped by 0.9345.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9314, with support below at 0.9284, 0.9262 and 0.9232, with resistance above at 0.9336, 0.9366 and 0.9388. Hourly Moving Averages are bearish with the 200SMA bearish at 0.9352 and the daily 20EMA bearish at 0.9363. Hourly RSI is bearish at 36.