4 Dec 2013
AUD/USD settling towards 0.90 handle
FXstreet.com (London) - AUD/USD lost ground overnight on the GDP numbers that disappointed.
The GDP report was followed up with comments from Treasurer Joe Hockey, saying the country faces a ‘growth hole’ only adding to the pressure on the currency. Meanwhile, ISM non-manufacturing did not extend its recent strong performance in Nov, coming in lower at 53.9 vs the 55.0 consensus. Oct new home sales to come in at 444K vs 432 consensus. Strategists at TD Securities sight further US data ahead and said, “Finally, we look for the Beige Book report to more closely reflect the Fed’s recent “glass half full tone””.
AUD/USD Levels
The 20 DMA is 0.9272, the 50 DMA is 0.9403 and the 200 DMA is 0.9599. RSI (14) reads 29.08. Supports are ascending from 0.8958, 0.8973, and 0.9000. Spot is currently 0.9011 while resistances are 0.9038, 0.9071, 0.9114, 0.9147, 0.9169 and 0.9204.
The GDP report was followed up with comments from Treasurer Joe Hockey, saying the country faces a ‘growth hole’ only adding to the pressure on the currency. Meanwhile, ISM non-manufacturing did not extend its recent strong performance in Nov, coming in lower at 53.9 vs the 55.0 consensus. Oct new home sales to come in at 444K vs 432 consensus. Strategists at TD Securities sight further US data ahead and said, “Finally, we look for the Beige Book report to more closely reflect the Fed’s recent “glass half full tone””.
AUD/USD Levels
The 20 DMA is 0.9272, the 50 DMA is 0.9403 and the 200 DMA is 0.9599. RSI (14) reads 29.08. Supports are ascending from 0.8958, 0.8973, and 0.9000. Spot is currently 0.9011 while resistances are 0.9038, 0.9071, 0.9114, 0.9147, 0.9169 and 0.9204.