12 May 2014
AUD/USD in tight range around 0.9360
FXStreet (Edinburgh) - The Australian dollar is trading almost unchanged on Monday, taking the AUD/USD to the area of 0.9355/60.
AUD/USD bounces off 0.9350
The pair continues to trade in a narrow range, finding decent support in the 0.9350 area amidst scarce volatility. Data wise, Business Confidence gauged by NAB came in higher at 6 for the month of April vs. 4 previous while Business Conditions dropped to 0.from 1, all ahead of tomorrow’s key release of the Government Budget. According to analysts at BBH, “the Aussie needs to move above the $0.9400 area, and ideally, April's multi-month high near $0.9460 to sustain the upside momentum. The technical indicators are mixed and are not generating a strong signal. A break below $0.9320-35 would be an early signal that $0.9200 may be seen first.
AUD/USD key levels
The pair is now up 0.02% at 0.9364 with the next resistance at 0.9427 (high Apr.11) ahead of 0.9461 (high Apr.10) and then 0.9500 (psychological level). On the flip side, a breakdown of 0.9227 (low Apr.29) would open the door to 0.9225 (low Apr.4) and finally 0.9184 (50-d MA).
AUD/USD bounces off 0.9350
The pair continues to trade in a narrow range, finding decent support in the 0.9350 area amidst scarce volatility. Data wise, Business Confidence gauged by NAB came in higher at 6 for the month of April vs. 4 previous while Business Conditions dropped to 0.from 1, all ahead of tomorrow’s key release of the Government Budget. According to analysts at BBH, “the Aussie needs to move above the $0.9400 area, and ideally, April's multi-month high near $0.9460 to sustain the upside momentum. The technical indicators are mixed and are not generating a strong signal. A break below $0.9320-35 would be an early signal that $0.9200 may be seen first.
AUD/USD key levels
The pair is now up 0.02% at 0.9364 with the next resistance at 0.9427 (high Apr.11) ahead of 0.9461 (high Apr.10) and then 0.9500 (psychological level). On the flip side, a breakdown of 0.9227 (low Apr.29) would open the door to 0.9225 (low Apr.4) and finally 0.9184 (50-d MA).