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28 Feb 2014
AUD/USD fighting back to open 0.8960’s
FXStreet (Guatemala) - AUD/USD has covered ground lost from on the back of yesterday’s softer CapEx data in moving up from the depths of the 0.89 a handle and the 55 day ma onto 0.8960 for the Asian open.
With regards to the US dollar, soft data here and there along with the political tensions in Ukraine are keeping markets on alert. Overnight, US durable goods orders fell 1.0% in January which was better than expected 1.5% drop but US weekly jobless claims read as 348,000 and worse than expected. Karen Jones at Commerzbank said, “We look for intraday rallies to terminate 0.8970. Only above 0.9086 would introduce scope to the 200 day ma at 0.9195, and the 0.9228 2013-2014 resistance line. We consider that support at 0.8825 (December low) guards key support at 0.8683/0.8660 (the 2011-2014 channel base, the 38.2% retracement of the move from 2001 to 2011 and the recent low).
AUD/USD Levels
The 20 DMA is 0.8957, the 50 DMA is 0.8908 and the 200 DMA is 0.9190. RSI (14) reads 49.16. Supports are ascending from 0.8821, 0.8873, 0.8896, 0.8907, 0.8922, 0.8969, 0.9026, 0.9050 and 0.9087.
With regards to the US dollar, soft data here and there along with the political tensions in Ukraine are keeping markets on alert. Overnight, US durable goods orders fell 1.0% in January which was better than expected 1.5% drop but US weekly jobless claims read as 348,000 and worse than expected. Karen Jones at Commerzbank said, “We look for intraday rallies to terminate 0.8970. Only above 0.9086 would introduce scope to the 200 day ma at 0.9195, and the 0.9228 2013-2014 resistance line. We consider that support at 0.8825 (December low) guards key support at 0.8683/0.8660 (the 2011-2014 channel base, the 38.2% retracement of the move from 2001 to 2011 and the recent low).
AUD/USD Levels
The 20 DMA is 0.8957, the 50 DMA is 0.8908 and the 200 DMA is 0.9190. RSI (14) reads 49.16. Supports are ascending from 0.8821, 0.8873, 0.8896, 0.8907, 0.8922, 0.8969, 0.9026, 0.9050 and 0.9087.