24 Jan 2014
AUD/USD crashed below the support of 0.8750 and reached new lows at 0.8704.
FXstreet.com (Moscow) - AUD/USD started the day near 0.8746 interim support, but comments of the official dropped it to 0.87 area.
Who’s to blame?
The currency pair tested the crucial support level as the key member of the central bank’s policy-making team Ridout said that AUD is still too high to ensure the Australian economy recovery naming 0.80 “a fair value”. His comments smashed the AUD down across the board. Now all eyes are at 0.8700 round level, once it is taken out, the downside will accelerate to new multi-year lows.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8784 with support below at 0.8710 (S1), 0.8657 (S2) and 0.8583 (S3), with resistance above at 0.8837 (R1), 0.8911 (R2), and 0.9964 (R3). Hourly Moving Averages are largely bearish, with the 200SMA at 0.8852 and the daily 20EMA bearish at 0.8887. Hourly RSI is neutral at 41.
Who’s to blame?
The currency pair tested the crucial support level as the key member of the central bank’s policy-making team Ridout said that AUD is still too high to ensure the Australian economy recovery naming 0.80 “a fair value”. His comments smashed the AUD down across the board. Now all eyes are at 0.8700 round level, once it is taken out, the downside will accelerate to new multi-year lows.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8784 with support below at 0.8710 (S1), 0.8657 (S2) and 0.8583 (S3), with resistance above at 0.8837 (R1), 0.8911 (R2), and 0.9964 (R3). Hourly Moving Averages are largely bearish, with the 200SMA at 0.8852 and the daily 20EMA bearish at 0.8887. Hourly RSI is neutral at 41.