4 Nov 2013
AUD/USD still capped by 0.9500 despite upbeat Australian, Chinese data
FXstreet.com (Athens) – The AUD/USD is struggling to overcome the 0.9500 handle, but for the time being, the cross seems unable to pluck up with the courage to continue its overnight uptrend momentum.
AUD/USD sits on the fence ahead of RBA; seems like Chinese data aid not enough for Aussie
While the AUD/USD enjoyed a mini rally today - many thanks to the solid data coming across the board on behalf of Australia, China – the cross can’t help itself to overcome clearly the 0.9500 handle. As the time goes by, it seems that the cross is mostly losing its overnight steam inspired by the solid Australian retail sales data and markets are mostly getting focused again on the upcoming RBA meeting.
Technical Perspective on the AUD/USD
The daily momentum seems to be negative for the pair despite the solid Australian, Chinese data and this might be well interpreted by market participants as a solid sign of underlying bearish bias. On the upper side, traders should bear in mind the last Thursday’s high as of 0.9526 which at the time being weighs as an interim resistance. On the down side, investors should take upon consideration that a clear daily close below the 0.9487 (30-daily SMA), might lead the cross to test the 30-day lower Bollinger Band at 0.9281.
October 24).
AUD/USD sits on the fence ahead of RBA; seems like Chinese data aid not enough for Aussie
While the AUD/USD enjoyed a mini rally today - many thanks to the solid data coming across the board on behalf of Australia, China – the cross can’t help itself to overcome clearly the 0.9500 handle. As the time goes by, it seems that the cross is mostly losing its overnight steam inspired by the solid Australian retail sales data and markets are mostly getting focused again on the upcoming RBA meeting.
Technical Perspective on the AUD/USD
The daily momentum seems to be negative for the pair despite the solid Australian, Chinese data and this might be well interpreted by market participants as a solid sign of underlying bearish bias. On the upper side, traders should bear in mind the last Thursday’s high as of 0.9526 which at the time being weighs as an interim resistance. On the down side, investors should take upon consideration that a clear daily close below the 0.9487 (30-daily SMA), might lead the cross to test the 30-day lower Bollinger Band at 0.9281.
October 24).