21 Jan 2015
AUD/USD capped at 0.8240
FXStreet (Edinburgh) - The upbeat momentum in the Aussie dollar pushed AUD/USD to the area of 0.8235/40 overnight, although the bull run deflated to 0.8210 afterwards.
AUD/USD improves after data
Auspicious Consumer Confidence data tracked by Westpac showed an improvement to 93.2 for the present month vs. 92.1, or a 2.4% advance, giving extra wings to the pair which is looking to consolidate above the 0.8200 mark amidst calmer commodities prices. Nothing of note ahead in the session for AUD, with the next data expected tomorrow from the Consumer Inflation Expectations and New Home Sales figures gauged by HIA.
Emmanuel Ng, FX Strategist at OCBC Bank, suggested, “Look for initial support towards 0.8125 while 0.8220 may cap for now”.
AUD/USD levels to watch
At the moment the pair is advancing 0.51% at 0.8217 with the initial resistance at 0.8244 (high Jan.19) ahead of 0.8256 (high Jan.16) and then 0.8295 (high Jan.15). On the flip side, a breakdown of 0.8170 (10-d MA) would open the door to 0.8160 (hourly low Jan.20) and finally 0.8134 (low Jan.15).
AUD/USD improves after data
Auspicious Consumer Confidence data tracked by Westpac showed an improvement to 93.2 for the present month vs. 92.1, or a 2.4% advance, giving extra wings to the pair which is looking to consolidate above the 0.8200 mark amidst calmer commodities prices. Nothing of note ahead in the session for AUD, with the next data expected tomorrow from the Consumer Inflation Expectations and New Home Sales figures gauged by HIA.
Emmanuel Ng, FX Strategist at OCBC Bank, suggested, “Look for initial support towards 0.8125 while 0.8220 may cap for now”.
AUD/USD levels to watch
At the moment the pair is advancing 0.51% at 0.8217 with the initial resistance at 0.8244 (high Jan.19) ahead of 0.8256 (high Jan.16) and then 0.8295 (high Jan.15). On the flip side, a breakdown of 0.8170 (10-d MA) would open the door to 0.8160 (hourly low Jan.20) and finally 0.8134 (low Jan.15).