13 Dec 2013
AUD/USD ranges overnight following selling hysteria
FXstreet.com (Barcelona) - Following yesterday’s RBA Steven’s led sell off below 0.9000, AUD/USD has stabilised, finding support below between 0.8910-20 and ranging into the European session.
AUD/USD settled ‘down under’?
Following yesterday’s sudden sell off, AUD/USD has stabilsed, but eye will be closely peeled, considering the RBA’s Steven’s indicated a preference for an even larger decline. The Aussie calendar was empty overnight, leading to spot to gently retrace higher to 0.8962, before testing lows again. Greg Gibbs, FX Strategist at RBS believes that AUD is already in the fair value ball-park, while Annette Beacher, FX Strategist at TDS believes that the pair will remain below 0.9000 throughout 2014.
What are today’s key AUD/USD levels?
Hourly RSI sits at 39, having moved from oversold territory overnight. Meanwhile, ADX is at 37. The hourly 200 SMA sits at 0.9067 and sloping lower, with the daily 20 EMA at 0.9153 and bearish The daily pivot point is at 0.8976, with resistance above at 0.9037 (R1), 0.9143 (R2) and 0.9204 (R3), and support below at 0.8870 (S1), 0.8809 (S2) and 0.8703 (S3). Matt Bacon-Hall of FXBeat sees resistance above at “0.9090 Stop losses Macro accounts, 0.9040-60 Real money offers, 0.9010 Buy stops commence, & 0.8970-80 Leveraged account offers” and support at “0.8900-10 Variety of bids, 0.8890 Stops commence, 0.8850-60 Option and exporter bids, & 0.8840 Stops commence down to 0.8800."
AUD/USD settled ‘down under’?
Following yesterday’s sudden sell off, AUD/USD has stabilsed, but eye will be closely peeled, considering the RBA’s Steven’s indicated a preference for an even larger decline. The Aussie calendar was empty overnight, leading to spot to gently retrace higher to 0.8962, before testing lows again. Greg Gibbs, FX Strategist at RBS believes that AUD is already in the fair value ball-park, while Annette Beacher, FX Strategist at TDS believes that the pair will remain below 0.9000 throughout 2014.
What are today’s key AUD/USD levels?
Hourly RSI sits at 39, having moved from oversold territory overnight. Meanwhile, ADX is at 37. The hourly 200 SMA sits at 0.9067 and sloping lower, with the daily 20 EMA at 0.9153 and bearish The daily pivot point is at 0.8976, with resistance above at 0.9037 (R1), 0.9143 (R2) and 0.9204 (R3), and support below at 0.8870 (S1), 0.8809 (S2) and 0.8703 (S3). Matt Bacon-Hall of FXBeat sees resistance above at “0.9090 Stop losses Macro accounts, 0.9040-60 Real money offers, 0.9010 Buy stops commence, & 0.8970-80 Leveraged account offers” and support at “0.8900-10 Variety of bids, 0.8890 Stops commence, 0.8850-60 Option and exporter bids, & 0.8840 Stops commence down to 0.8800."