13 Jun 2014
AUD/USD is sidelined above May's high
FXStreet (Moscow) - AUD/USD settled at 0.9420, taking a rest after a spectacular rise on Thursday
Aussie is too dependent
AUD/USD is on the way to April highs, although there is not much in the terms of fundamentals to support the pair, except for the shy signs of Chinese recovery. The improving US data, and higher US yields coupled with softer commodity prices and the RBA neutral stance may cap the further rise of the pair. However, the Australian economy is deeply dependant on Chinese demand, thus, any signs of the latter stabilizing may prove supportive for the Aussie. The scheduled for release IP data may give new food for thoughts today.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9406, with support below at 0.9372, 0.9317 and 0.9283, with resistance above at 0.9461, 0.9495 and 0.9550. Hourly Moving Averages are mostly bullish with the 200SMA at 0.9332 and the daily 20EMA at 0.9324. Hourly RSI is bullish at 57.
Aussie is too dependent
AUD/USD is on the way to April highs, although there is not much in the terms of fundamentals to support the pair, except for the shy signs of Chinese recovery. The improving US data, and higher US yields coupled with softer commodity prices and the RBA neutral stance may cap the further rise of the pair. However, the Australian economy is deeply dependant on Chinese demand, thus, any signs of the latter stabilizing may prove supportive for the Aussie. The scheduled for release IP data may give new food for thoughts today.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9406, with support below at 0.9372, 0.9317 and 0.9283, with resistance above at 0.9461, 0.9495 and 0.9550. Hourly Moving Averages are mostly bullish with the 200SMA at 0.9332 and the daily 20EMA at 0.9324. Hourly RSI is bullish at 57.