10 Jan 2014
AUD/USD consolidates around 0.8900
FXstreet.com (Córdoba) - The AUD/USD is enjoying a phase of consolidation after volatile moves seen during the Asian session as investors gear up for the US nonfarm payrolls report.
The AUD/USD fell to a low of 0.8875 after Chinese trade data came in worse than expected and with the subsequent bounce capped by the 0.8910 level, the pair was confined to a narrow range during the last hours. At time of writing, the AUD/USD is trading at the 0.8890 zone, virtually unchanged on the day.
AUD/USD levels to watch
In terms of technical levels, the AUD/USD could face immediate resistances at 0.8910/12 (Jan 10 & 9 highs), 0.8951 (Jan 8 high) and 0.8970 (Jan 7 high) ahead of 0.9000 (psychological level). On the flip side, supports are seen at 0.8864 (Jan 9 low) and 0.8842 (Jan 2 low) ahead of 0.8820 (Dec 18 low).
The AUD/USD fell to a low of 0.8875 after Chinese trade data came in worse than expected and with the subsequent bounce capped by the 0.8910 level, the pair was confined to a narrow range during the last hours. At time of writing, the AUD/USD is trading at the 0.8890 zone, virtually unchanged on the day.
AUD/USD levels to watch
In terms of technical levels, the AUD/USD could face immediate resistances at 0.8910/12 (Jan 10 & 9 highs), 0.8951 (Jan 8 high) and 0.8970 (Jan 7 high) ahead of 0.9000 (psychological level). On the flip side, supports are seen at 0.8864 (Jan 9 low) and 0.8842 (Jan 2 low) ahead of 0.8820 (Dec 18 low).