20 Nov 2013
AUD/USD kept lows after US data
FXstreet.com (Edinburgh) - The Australian dollar remains in the lower end of the intraday range on Wednesday, pushing the AUD/USD to test session lows sub-0.9380.
AUD/USD offered below 0.9400
The selling tone remains intact amongst AUD traders after US Retail Sales exceeded expectations, expanding at a monthly pace of 0.4% and 0.2% excluding the Autos sector. Further US data showed that consumer prices gauged by the headline CPI rose 1.0%, while the Core print rose 1.7%; both readings matching the median. Next on tap will be Existing Home Sales (5.13M in October) ahead of the FOMC minutes. “The pair may continue to mull its 55-day MA (0.9428) with the next resistance expected at 0.9465/70 and support seen towards 0.9400 and then 0.9375”, suggested Emmanuel Ng, Strategist at OCBC Bank.
AUD/USD key levels
As of writing the pair is losing 0.63% at 0.9368 with the immediate support at 0.9352 (low Nov.19) head of 0.9305 (low Nov.15) and then 0.9298 (50% of 0.8848-0.9758). On the flip side, a breakout of 0.9448 (high Nov.19) would bring 0.9530 (high Sep.18) and then 0.9544 (high Nov.6).
AUD/USD offered below 0.9400
The selling tone remains intact amongst AUD traders after US Retail Sales exceeded expectations, expanding at a monthly pace of 0.4% and 0.2% excluding the Autos sector. Further US data showed that consumer prices gauged by the headline CPI rose 1.0%, while the Core print rose 1.7%; both readings matching the median. Next on tap will be Existing Home Sales (5.13M in October) ahead of the FOMC minutes. “The pair may continue to mull its 55-day MA (0.9428) with the next resistance expected at 0.9465/70 and support seen towards 0.9400 and then 0.9375”, suggested Emmanuel Ng, Strategist at OCBC Bank.
AUD/USD key levels
As of writing the pair is losing 0.63% at 0.9368 with the immediate support at 0.9352 (low Nov.19) head of 0.9305 (low Nov.15) and then 0.9298 (50% of 0.8848-0.9758). On the flip side, a breakout of 0.9448 (high Nov.19) would bring 0.9530 (high Sep.18) and then 0.9544 (high Nov.6).