7 Nov 2013
AUD/USD subdued below 0.9480
FXstreet.com (Chicago) - AUD/USD prints lower highs and lows in the afternoon of the American trading session after a highly volatile journey on data releases for both countries. So far, the pair accumulates 0.67% in losses but remains positive for the week up 0.26%.
Earlier in Australia, job market results were disappointing sending the pair to the grounds. At 5.7%, unemployment rates were the only matched results with expectations. Employment change was 1,100 vs. expected 10,000 while fulltime employment was -27,900 vs. past -1,800. Thus, in order to avoid further downward movements, it was necessary to have disappointing US data. That being the case, mixed results sent unclear signals about the health of the economy: on one hand, there were positive GDP facts with the GDP product price index at 1.9% vs. expected 1.4% and the GDP annualized at 2.8% vs. expected 2.0%. On the other hand, initial jobless claims were 336K vs. expected 335K similarly to the personal consumption expenditures prices at 1.9% vs. expected 2.0% and the core personal consumption expenditures at 1.4% vs. estimates at 1.5%.
AUD/USD Technical Levels
Technically speaking, the pair is attempting to extend the comeback after bounce from 0.9445 session lows. Offered at 0.9464, the pair oscillates between the supports aligned at 0.9422 (November 1st lows), 0.9383 (October 9th lows) followed by 0.9328 (October 1st lows) and the resistances set at 0.9488 (October 11th highs), 0.9537 (November 4th highs) ahead of 0.9574 (October 26th lows). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis below the EMA20.
Earlier in Australia, job market results were disappointing sending the pair to the grounds. At 5.7%, unemployment rates were the only matched results with expectations. Employment change was 1,100 vs. expected 10,000 while fulltime employment was -27,900 vs. past -1,800. Thus, in order to avoid further downward movements, it was necessary to have disappointing US data. That being the case, mixed results sent unclear signals about the health of the economy: on one hand, there were positive GDP facts with the GDP product price index at 1.9% vs. expected 1.4% and the GDP annualized at 2.8% vs. expected 2.0%. On the other hand, initial jobless claims were 336K vs. expected 335K similarly to the personal consumption expenditures prices at 1.9% vs. expected 2.0% and the core personal consumption expenditures at 1.4% vs. estimates at 1.5%.
AUD/USD Technical Levels
Technically speaking, the pair is attempting to extend the comeback after bounce from 0.9445 session lows. Offered at 0.9464, the pair oscillates between the supports aligned at 0.9422 (November 1st lows), 0.9383 (October 9th lows) followed by 0.9328 (October 1st lows) and the resistances set at 0.9488 (October 11th highs), 0.9537 (November 4th highs) ahead of 0.9574 (October 26th lows). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis below the EMA20.