13 Dec 2013
AUD/USD grinding to a halt
FXstreet.com (London) - AUD/USD is grinding to a halt at the end of the week and has scored a low of 0.8909. The pair is oscillating off the lows and maintains the 0.89 handle.
Strategists at TD Securities said, “Asia Pac walked in this morning to a surprise slump in the AUD, touching a three-month low of $US0.8914 (and stayed there all session) after RBA Governor Glenn Stevens said a newspaper interview that $US0.85 “would be closer to the mark than 95 at the time we started to make some comments some months ago””. The AUD/USD is likely going to be waiting for the FOMC outcome which is still some ways off next Wednesday. There is a growing consensus that is looking for a token taper next week of $5-10b.
AUD/USD Levels
The 20 DMA is 0.9158, the 50 DMA is 0.9361 and the 200 DMA is 0.9558. RSI (14) reads 46.21. Supports are ascending from 0.8770, 0.8830, 0.8848, 0.8891. Spot is 0.8952 while resistances are 0.8989, 0.9011, 0.9083 and 0.9125.
Strategists at TD Securities said, “Asia Pac walked in this morning to a surprise slump in the AUD, touching a three-month low of $US0.8914 (and stayed there all session) after RBA Governor Glenn Stevens said a newspaper interview that $US0.85 “would be closer to the mark than 95 at the time we started to make some comments some months ago””. The AUD/USD is likely going to be waiting for the FOMC outcome which is still some ways off next Wednesday. There is a growing consensus that is looking for a token taper next week of $5-10b.
AUD/USD Levels
The 20 DMA is 0.9158, the 50 DMA is 0.9361 and the 200 DMA is 0.9558. RSI (14) reads 46.21. Supports are ascending from 0.8770, 0.8830, 0.8848, 0.8891. Spot is 0.8952 while resistances are 0.8989, 0.9011, 0.9083 and 0.9125.