Back
5 Mar 2014
Aussie is off from Asian highs at 0.8995
FXStreet (Moscow) - AUD/USD has come back in mid- 0.8900 after a failed attempt at 0.8990-0.9000 resistance; currently, the cross is trading around 0.8960.
From geopolitics to economics?
Aussie was pretty nervous on Tuesday as RBA comments accompanying the rate decision shifted the market focus onto the Australian currency overvalue. Though later during the day geopolitics once again grabbed the attention of the investors and the AUD/USD managers to reverse losses. From the technical point of view, it is interesting to note that the pair touché the area of strong demand 0.8900-0.8890, but failed to move lower. It was another unsuccessful try. So this support zone has become even more important. From the fundamental point of view Aussie dynamics will be shaped by ADP report and Non-Manufacturing ISM numbers from the USA. Economists and traders will use them to fine-tune their Non-Farm Payroll forecasts . Should these data lead them to believe that the US labor market is in better shape, USD might gain support across the board. Aussie is sensitive to rate differential, so do not be surprised if AUD/USD has another try at 0.8900-0.8890. On the upside the resistance is seen at 0.8990
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8943, with support below at 0.8917, 0.8881 and 0.8855, with resistance above at 0.8979, 0.9005 and 0.9041. Hourly Moving Averages are mixed, with the 200SMA at 0.8970 and the daily 20EMA at 0.8957. Hourly RSI is neutral at 52.
From geopolitics to economics?
Aussie was pretty nervous on Tuesday as RBA comments accompanying the rate decision shifted the market focus onto the Australian currency overvalue. Though later during the day geopolitics once again grabbed the attention of the investors and the AUD/USD managers to reverse losses. From the technical point of view, it is interesting to note that the pair touché the area of strong demand 0.8900-0.8890, but failed to move lower. It was another unsuccessful try. So this support zone has become even more important. From the fundamental point of view Aussie dynamics will be shaped by ADP report and Non-Manufacturing ISM numbers from the USA. Economists and traders will use them to fine-tune their Non-Farm Payroll forecasts . Should these data lead them to believe that the US labor market is in better shape, USD might gain support across the board. Aussie is sensitive to rate differential, so do not be surprised if AUD/USD has another try at 0.8900-0.8890. On the upside the resistance is seen at 0.8990
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8943, with support below at 0.8917, 0.8881 and 0.8855, with resistance above at 0.8979, 0.9005 and 0.9041. Hourly Moving Averages are mixed, with the 200SMA at 0.8970 and the daily 20EMA at 0.8957. Hourly RSI is neutral at 52.