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12 Jun 2014
AUD/USD falling was just a glitch
FXStreet (Moscow) - AUD/USD has recovered from the initial loss incurred due to disappointing labour market statistics; now the pair is trading at 0.9379 within a couple of pips from its opening level.
Is the growth story is over for Aussie?
Now that the key event of the week for Aussie is out of the way, investors have a chance to dwell upon its macroeconomic implications for the RBA monetary policy. Disappointing data paves the way for adjusting expectations towards slightly less hawkish approach of the central bank, which is disruptive for the Aussie upside dynamics. Though, global risk sentiments are on mend, thus the bulls don’t lose hope yet. From the technical point of view, the first resistance is seen at 0.9410. Once it is broken the upside will accelerate to 0.9450. The downside might be limited by 0.9300.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9386, with support below at 0.9363, 0.9341 and 0.9318, with resistance above at 0.9408, 0.9431 and 0.9453. Hourly Moving Averages are mostly neutral with the 200SMA at 0.9316 and the daily 20EMA at 0.9313. Hourly RSI is bearish at 43.
Is the growth story is over for Aussie?
Now that the key event of the week for Aussie is out of the way, investors have a chance to dwell upon its macroeconomic implications for the RBA monetary policy. Disappointing data paves the way for adjusting expectations towards slightly less hawkish approach of the central bank, which is disruptive for the Aussie upside dynamics. Though, global risk sentiments are on mend, thus the bulls don’t lose hope yet. From the technical point of view, the first resistance is seen at 0.9410. Once it is broken the upside will accelerate to 0.9450. The downside might be limited by 0.9300.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9386, with support below at 0.9363, 0.9341 and 0.9318, with resistance above at 0.9408, 0.9431 and 0.9453. Hourly Moving Averages are mostly neutral with the 200SMA at 0.9316 and the daily 20EMA at 0.9313. Hourly RSI is bearish at 43.