9 Oct 2013
AUD/USD finding an edge
FXstreet.com (London) - AUD/USD has fallen from the high of 0.9466 in a steep decline on EUR/AUD supply and then attracted bids ahead of 0.9410 support.
AUD/USD could find an edge when the USD could see a soft patch on Janet Yellen as chosen to be the new Fed chair. However, markets may remain cautious over the medium term on AUD, as Chinese data remain weak. Domestic data has shown mixed signals though business confidence yesterday surprised on the upside. Consumer confidence today was a downside surprise.
AUD/USD Levels
The 20 DMA is 0.9381, the 50 DMA is 0.9195 and the 200 DMA is 0.9796. RSI (14) reads 44.55. Supports are ascending from 0.9334, 0.9367, 0.9380. Spot is currently 0.9426 while resistances are 0.9428, 0.9456, 0.9485, 0.9530 and 0.9581.
AUD/USD could find an edge when the USD could see a soft patch on Janet Yellen as chosen to be the new Fed chair. However, markets may remain cautious over the medium term on AUD, as Chinese data remain weak. Domestic data has shown mixed signals though business confidence yesterday surprised on the upside. Consumer confidence today was a downside surprise.
AUD/USD Levels
The 20 DMA is 0.9381, the 50 DMA is 0.9195 and the 200 DMA is 0.9796. RSI (14) reads 44.55. Supports are ascending from 0.9334, 0.9367, 0.9380. Spot is currently 0.9426 while resistances are 0.9428, 0.9456, 0.9485, 0.9530 and 0.9581.