4 Apr 2014
AUD/USD is stuck in a 20-pips range on quiet Asian session
FXStreet (Moscow) - AUD/USD is up 0.03% on the day at 0.9234, after touching a daily high at 0.9245 and a low at 0.9223.
Aussie takes its time
The consolidation mode dominates the Aussie movements as long as the pair keeps above 0.9200. On Thursday AUD/USD dipped to 0.9200 but the bespoke support was not even tested. There are no interesting events scheduled either in Asia or in Europe, so the markets have only Chinese news and US payrolls data expectations to dwell upon. The US report is forecasted to show that spring has come to the labour market. The consensus is 225k of new jobs in March and the unemployment rate at 6.6%. Much of this is already priced in, but anyway positive data will support the Dollar. The market may be violent as this report is notorious for its ability to create a great deal of volatility. Keep an eye at 0.9200 on the downside. The closest resistance is seen at current Asian high of 0.9245 and followed by 0.9254 with offers on approach.
What price levels and patterns have to be considered?
Current price is 0.9235, with resistance ahead at 0.9243 (Hourly 100 SMA), 0.9245 (Daily High), 0.9256 (Yesterday's High), 0.9257 (Daily Classic R1) and 0.9264 (Monthly High).
Next support to the downside can be found at 0.9234 (Daily Open), 0.9232 (Hourly 20 EMA), 0.9232 (Weekly Low), 0.9231 (Daily Classic PP) and 0.9227 (Hourly 200 SMA).
Looking at price patterns, we can see a Doji 1-hour candlestick formation, and a Doji 4-hour formation..
Aussie takes its time
The consolidation mode dominates the Aussie movements as long as the pair keeps above 0.9200. On Thursday AUD/USD dipped to 0.9200 but the bespoke support was not even tested. There are no interesting events scheduled either in Asia or in Europe, so the markets have only Chinese news and US payrolls data expectations to dwell upon. The US report is forecasted to show that spring has come to the labour market. The consensus is 225k of new jobs in March and the unemployment rate at 6.6%. Much of this is already priced in, but anyway positive data will support the Dollar. The market may be violent as this report is notorious for its ability to create a great deal of volatility. Keep an eye at 0.9200 on the downside. The closest resistance is seen at current Asian high of 0.9245 and followed by 0.9254 with offers on approach.
What price levels and patterns have to be considered?
Current price is 0.9235, with resistance ahead at 0.9243 (Hourly 100 SMA), 0.9245 (Daily High), 0.9256 (Yesterday's High), 0.9257 (Daily Classic R1) and 0.9264 (Monthly High).
Next support to the downside can be found at 0.9234 (Daily Open), 0.9232 (Hourly 20 EMA), 0.9232 (Weekly Low), 0.9231 (Daily Classic PP) and 0.9227 (Hourly 200 SMA).
Looking at price patterns, we can see a Doji 1-hour candlestick formation, and a Doji 4-hour formation..