6 Nov 2013
AUD/USD stabilizing around 0.9520
FXstreet.com (Edinburgh) -The Aussie dollar is extending the weekly upside on Wednesday, pushing the AUD/USD to test weekly highs around 0.9520/30.
AUD/USD boosted by data in Oz, NZ
The bullish momentum in the pair found support today in the upbeat tone from the labour market in New Zealand, with the jobless rate beating expectations and ticking lower to 6.2% during Q3 and the lower than expected Australian trade deficit at A$ 284 million vs. A$ 450 million forecasted, with a substantial increase in exports to China worth mentioning. According to analysts at UBS, the stance on the pair remains neutral “with strong support at 0.9410. A close below this will be negative, exposing 0.9281. Resistance is at 0.9550 ahead of 0.9630”.
AUD/USD key levels
As of writing the pair is up 0.18% at 0.9513 with the next resistance at 0.9600 (psychological level) ahead of 0.9624 (high Oct.25) and finally 0.9705 (MA200d). On the flip side, a breach of 0.9389 (low Oct.7) would expose 0.9385 (MA50d) and then 0.9280 (low Sep.30).
AUD/USD boosted by data in Oz, NZ
The bullish momentum in the pair found support today in the upbeat tone from the labour market in New Zealand, with the jobless rate beating expectations and ticking lower to 6.2% during Q3 and the lower than expected Australian trade deficit at A$ 284 million vs. A$ 450 million forecasted, with a substantial increase in exports to China worth mentioning. According to analysts at UBS, the stance on the pair remains neutral “with strong support at 0.9410. A close below this will be negative, exposing 0.9281. Resistance is at 0.9550 ahead of 0.9630”.
AUD/USD key levels
As of writing the pair is up 0.18% at 0.9513 with the next resistance at 0.9600 (psychological level) ahead of 0.9624 (high Oct.25) and finally 0.9705 (MA200d). On the flip side, a breach of 0.9389 (low Oct.7) would expose 0.9385 (MA50d) and then 0.9280 (low Sep.30).