25 Jun 2014
AUD/USD heading for 0.85 this year?
FXStreet (Guatemala) - AUD/USD is trading at 0.9400, up 0.36% on the day, having posted a daily high at 0.9403 and low at 0.9354.
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index, which is slightly bullish. However, from a longer term view point, Greg Gibbs, FX Trading Strategist at RBS explained that the sharp fall in Australian rates has narrowed the AUD/USD yield advantage to a low since August last year. ”The RBA is unlikely to shed any tears if the AUD falls substantially. As such, we continue to forecast 0.85 for later this year."
AUD/USD Levels
Spot is presently trading at 0.9402, and next resistance can be seen at 0.9403 (Daily High), 0.9412 (Daily Classic R1), 0.9423 (Weekly High), 0.9428 (Monthly High) and (YTD High). Support below can be found at 0.9400 (Hourly 100 SMA), 0.9389 (Daily Classic PP), 0.9388 (Hourly 200 SMA), 0.9381 (Weekly Classic PP) and 0.9380 (Hourly 20 EMA).
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index, which is slightly bullish. However, from a longer term view point, Greg Gibbs, FX Trading Strategist at RBS explained that the sharp fall in Australian rates has narrowed the AUD/USD yield advantage to a low since August last year. ”The RBA is unlikely to shed any tears if the AUD falls substantially. As such, we continue to forecast 0.85 for later this year."
AUD/USD Levels
Spot is presently trading at 0.9402, and next resistance can be seen at 0.9403 (Daily High), 0.9412 (Daily Classic R1), 0.9423 (Weekly High), 0.9428 (Monthly High) and (YTD High). Support below can be found at 0.9400 (Hourly 100 SMA), 0.9389 (Daily Classic PP), 0.9388 (Hourly 200 SMA), 0.9381 (Weekly Classic PP) and 0.9380 (Hourly 20 EMA).