14 Apr 2014
AUD/USD regains 0.9400
FXStreet (Edinburgh) - The AUD keeps its recovery intact on Monday, leading the AUD/USD back above the 0.9400 barrier after dipping near 0.9380.
AUD/USD back to overnight peaks
The pair is now testing overnight tops around 0.9410 amidst increasing buying interest around the AUD, extending its rally from mid-January troughs in the area of 0.8650. “On the week, 0.9300-0.9500 should be the broad range, with Australia’s calendar quiet. We see risks of a mild upside surprise on China’s Q1 GDP report, which should help AUD on crosses”, commented analysts at Westpac Global Strategy Group. The next big event for the AUD will be tomorrow’s RBA minutes.
AUD/USD key levels
The pair is now advancing 0.13% at 0.9408 and a breakout of 0.9427 (high Apr.11) would open the door to 0.9461 (high Apr.10) and then 0.9500 (psychological level). On the flip side, the initial support lines up at 0.9362 (low Apr.11) ahead of 0.9355 (low Apr.9) and finally 0.9300 (psychological level).
AUD/USD back to overnight peaks
The pair is now testing overnight tops around 0.9410 amidst increasing buying interest around the AUD, extending its rally from mid-January troughs in the area of 0.8650. “On the week, 0.9300-0.9500 should be the broad range, with Australia’s calendar quiet. We see risks of a mild upside surprise on China’s Q1 GDP report, which should help AUD on crosses”, commented analysts at Westpac Global Strategy Group. The next big event for the AUD will be tomorrow’s RBA minutes.
AUD/USD key levels
The pair is now advancing 0.13% at 0.9408 and a breakout of 0.9427 (high Apr.11) would open the door to 0.9461 (high Apr.10) and then 0.9500 (psychological level). On the flip side, the initial support lines up at 0.9362 (low Apr.11) ahead of 0.9355 (low Apr.9) and finally 0.9300 (psychological level).