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7 Mar 2014
AUD/USD bulls are in no hurry, they have to mull things over
FXStreet (Moscow) - AUD/USD has rebounded from the current Asian lows at 0.9067 and stalled close to the interim resistance level of 0.9090.
Aussie wants to be strong
Stellar retail sales and trader balance data gave AUD/USD bulls the second on wind as the pair cmd close to the next important resistance level of 0.9100 and set a new high of the year. Risk environment has been rather positive recently so the Aussie rallied freely, but strong offers and middle-term stops make this level a formidable resistance, so the chances are that the Aussie traders will choose to take profit ahead of the weekend. This will trigger a shor-term correction to the first area of support of 0.9022. ,During the American trading session AUD/USD movements will be influenced by US Non-Farm Payroll. Lots of observers downgraded their forecasts after dismal ADP and Non-Manufacturing ISM numbers, but if the numbers come out much lower than the forecast, they will get scared and dump the USD anyway. This will give the Aussie bulls a chance to break above 0.9100. While better than expected numbers might have a much stronger effect and push the US Dollar higher across the board. The key levels to watch: the nearest resistance is seen at the current Asian high at 0.9111 and followed by strong offers area at 0.9150. The support comes at 0.9060 and Wednesday’s low at 0.9048.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9058, with support below at 0.9001, 0.8914 and 0.8857, with resistance above at 0.9145, 0.9202 and 0.9289. Hourly Moving Averages are bullish, with the 200SMA at 0.8979 and the daily 20EMA at 0.8972. Hourly RSI is neutral at 64.
Aussie wants to be strong
Stellar retail sales and trader balance data gave AUD/USD bulls the second on wind as the pair cmd close to the next important resistance level of 0.9100 and set a new high of the year. Risk environment has been rather positive recently so the Aussie rallied freely, but strong offers and middle-term stops make this level a formidable resistance, so the chances are that the Aussie traders will choose to take profit ahead of the weekend. This will trigger a shor-term correction to the first area of support of 0.9022. ,During the American trading session AUD/USD movements will be influenced by US Non-Farm Payroll. Lots of observers downgraded their forecasts after dismal ADP and Non-Manufacturing ISM numbers, but if the numbers come out much lower than the forecast, they will get scared and dump the USD anyway. This will give the Aussie bulls a chance to break above 0.9100. While better than expected numbers might have a much stronger effect and push the US Dollar higher across the board. The key levels to watch: the nearest resistance is seen at the current Asian high at 0.9111 and followed by strong offers area at 0.9150. The support comes at 0.9060 and Wednesday’s low at 0.9048.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9058, with support below at 0.9001, 0.8914 and 0.8857, with resistance above at 0.9145, 0.9202 and 0.9289. Hourly Moving Averages are bullish, with the 200SMA at 0.8979 and the daily 20EMA at 0.8972. Hourly RSI is neutral at 64.