22 Jul 2014
AUD/USD don't give up attempts to get to 0.9400
FXStreet (Moscow) - AUD/USD has resumed the upside after falling to 0.9373 following RBA’s Governor speech; currently the pair is trading at 0.9390
What about inflation?
Now that RBA’s Governor speech is behind us and the dust has settled, the key focus of the markets shifted to Australian inflation data, published on Wednesday during Asian hours. Signs of rising inflation pressure might support Aussie for a while, though the momentum is unlikely to be strong as Higher inflation coupled with weaker fundamentals is not the best economic combination. US CPI published today during US hours will be in the limelight. Higher than expected numbers could trigger speculations about early Fed rate hike. In this case AUD/USD might dip to 0.9322 support (June’s low, that is going to withstand the bearish assault).
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9382, with support below at 0.9361, 0.9349 and 0.9328, with resistance above at 0.9394, 0.9415 and 0.9427. Hourly Moving Averages are flat with the 200SMA neutral at 0.9380 and the daily 20EMA neutral at 0.9384. Hourly RSI is bullish at 51.
What about inflation?
Now that RBA’s Governor speech is behind us and the dust has settled, the key focus of the markets shifted to Australian inflation data, published on Wednesday during Asian hours. Signs of rising inflation pressure might support Aussie for a while, though the momentum is unlikely to be strong as Higher inflation coupled with weaker fundamentals is not the best economic combination. US CPI published today during US hours will be in the limelight. Higher than expected numbers could trigger speculations about early Fed rate hike. In this case AUD/USD might dip to 0.9322 support (June’s low, that is going to withstand the bearish assault).
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9382, with support below at 0.9361, 0.9349 and 0.9328, with resistance above at 0.9394, 0.9415 and 0.9427. Hourly Moving Averages are flat with the 200SMA neutral at 0.9380 and the daily 20EMA neutral at 0.9384. Hourly RSI is bullish at 51.