7 Apr 2014
AUD/USD deflates to 0.9270
FXStreet (Edinburgh) - The AUD/USD is depreciating against the greenback at the beginning of the week, easing to the area of 0.9275/70.
AUD/USD off highs above 0.9310
The pair is correcting lower from recent multi-month peaks beyond 0.9300 the figure posted after Friday’s Payrolls, in a context of thin trade and with no relevant docket in Oz. Ahead in the week, inflation expectations and key employment data would be closely followed by traders. “It has been knocking on the $0.9300 ceiling for several sessions. It has moved above it twice, but unable to close above it. At the same time, pushback has been modest, with $0.9200 holding. It is possible, as we have noted, that the Australian dollar has carved out a head and shoulders bottom. It projects toward $0.9500”, commented analysts at BBH.
AUD/USD levels to watch
The pair is losing 0.14% at 0.9278 with the next support at 0.9225 (low Apr.4) ahead of 0.9155 (low Mar.26) and then 0.9139 (200-d MA). On the flip side, a breakout of 0.9300 (psychological level) would open the door to 0.9308 (high Apr.4) and finally 0.9310 (high Apr.1).
AUD/USD off highs above 0.9310
The pair is correcting lower from recent multi-month peaks beyond 0.9300 the figure posted after Friday’s Payrolls, in a context of thin trade and with no relevant docket in Oz. Ahead in the week, inflation expectations and key employment data would be closely followed by traders. “It has been knocking on the $0.9300 ceiling for several sessions. It has moved above it twice, but unable to close above it. At the same time, pushback has been modest, with $0.9200 holding. It is possible, as we have noted, that the Australian dollar has carved out a head and shoulders bottom. It projects toward $0.9500”, commented analysts at BBH.
AUD/USD levels to watch
The pair is losing 0.14% at 0.9278 with the next support at 0.9225 (low Apr.4) ahead of 0.9155 (low Mar.26) and then 0.9139 (200-d MA). On the flip side, a breakout of 0.9300 (psychological level) would open the door to 0.9308 (high Apr.4) and finally 0.9310 (high Apr.1).