9 Jun 2014
AUD/USD: Support 0.9325 successfully defended
FXStreet (Bali) - AUD/USD is trading slightly higher in Asia, currently at 0.9337 after a NY close of 0.9329 on Friday, following a solid US NFP.
Over the weekend, trade balance (May) in China came better-than-expected at $35.92B vs $22.60B exp, with a +7.0% in exports vs +6.6% exp, while imports were depressed at -1.6% vs 6.1% exp. The data offers is a neutral inpit for the AUD given the slump in imports.
Note it is a public holiday in Australia today, which should see liquidity very thin until the Tokyo open, time when a bit more of action may be seen. The next risk event for the AUD is due later today, at 16GMT, with RBA Governor Stevens due to deliver a speech titled "Financial Regulation: Some Observations" at the Fed's Symposium on Asian Banking and Finance, in San Fransisco.
Justin C. Paolini from Order Flow Trading notes large stops above 0.9375, with offers at 0.9350 and some more stops at 0.9340, while on the downside, stops should be found at 0.9315, with bids at 0.93 and stops below 0.9240.
Over the weekend, trade balance (May) in China came better-than-expected at $35.92B vs $22.60B exp, with a +7.0% in exports vs +6.6% exp, while imports were depressed at -1.6% vs 6.1% exp. The data offers is a neutral inpit for the AUD given the slump in imports.
Note it is a public holiday in Australia today, which should see liquidity very thin until the Tokyo open, time when a bit more of action may be seen. The next risk event for the AUD is due later today, at 16GMT, with RBA Governor Stevens due to deliver a speech titled "Financial Regulation: Some Observations" at the Fed's Symposium on Asian Banking and Finance, in San Fransisco.
Justin C. Paolini from Order Flow Trading notes large stops above 0.9375, with offers at 0.9350 and some more stops at 0.9340, while on the downside, stops should be found at 0.9315, with bids at 0.93 and stops below 0.9240.