9 Apr 2014
AUD/USD retreats from highs
FXStreet (Edinburgh) - The AUD/USD is back to the 0.9370/65 region on Wednesday after posting session highs near 0.9390, levels last seen in November.
AUD/USD firmer on Oz data
The AUD keeps trading in a firm footing, extending its rally for the fourth consecutive week after Home Loans in Australia expanded 2.3% in February, surpassing estimates. Further data showed that consumer confidence gauged by Westpac bettered to 99.7 from 99.5 for the month of April, adding to the sentiment. “The AUD-USD’s continued buoyancy has become seemingly unfettered with the recent consolidation nothing short of shallow. In the near term, our objective at 0.9405 remains in play although we note however looming event risks from the Chinese data stream tomorrow”, suggested Emmanuel Ng, Strategist at OCBC Bank.
AUD/USD levels to watch
The pair is now up 0.02% at 0.9263 with the next resistance at 0.9400 (psychological level) ahead of 0.9448 (high Nov.20) and then 0.9530 (high Sep.18). On the downside, a break below 0.9300 (psychological level) would expose 0.9263 (low Apr.8) and finally 0.9254 (low Apr.7).
AUD/USD firmer on Oz data
The AUD keeps trading in a firm footing, extending its rally for the fourth consecutive week after Home Loans in Australia expanded 2.3% in February, surpassing estimates. Further data showed that consumer confidence gauged by Westpac bettered to 99.7 from 99.5 for the month of April, adding to the sentiment. “The AUD-USD’s continued buoyancy has become seemingly unfettered with the recent consolidation nothing short of shallow. In the near term, our objective at 0.9405 remains in play although we note however looming event risks from the Chinese data stream tomorrow”, suggested Emmanuel Ng, Strategist at OCBC Bank.
AUD/USD levels to watch
The pair is now up 0.02% at 0.9263 with the next resistance at 0.9400 (psychological level) ahead of 0.9448 (high Nov.20) and then 0.9530 (high Sep.18). On the downside, a break below 0.9300 (psychological level) would expose 0.9263 (low Apr.8) and finally 0.9254 (low Apr.7).