23 Oct 2013
AUD/USD stalling ahead of 0.9600
FXstreet.com (London) - AUD/USD has followed suit in the market dropping from a high of 0.9759 to record 0.9606 ahead of the handle and attract support for the time being.
Consolidation appears to be the theme for the Us session for the pair. Research teams at TD Securities pointed out, “We have been highlighting the almost universally negative sentiment on the USD recently, and yesterday’s soft US jobs report only reinforced that opinion. But it appears the market had become a bit too one-sided against the big dollar, and all it too was a small trigger to squeeze some of that positioning. Chinese liquidity concerns seem to have precipitated the overnight risk aversion, and without anything globally significant on the calendar in North America today, there’s not much to challenge these moves. For most currency pairs then, we could see some small extensions or consolidation through the rest of the day”.
AUD/USD Levels
The 20 DMA is 0.9488, the 50 DMA is 0.9303 and the 200 DMA is 0 .9749. RSI (14) reads 39.69. Supports are ascending from 0.9548, 0.9566 and 0.9604. Spot is currently 0.9630 while resistances are 0.9644, 0.9693, 0.9749, 0.9758 and 0.9792.
Consolidation appears to be the theme for the Us session for the pair. Research teams at TD Securities pointed out, “We have been highlighting the almost universally negative sentiment on the USD recently, and yesterday’s soft US jobs report only reinforced that opinion. But it appears the market had become a bit too one-sided against the big dollar, and all it too was a small trigger to squeeze some of that positioning. Chinese liquidity concerns seem to have precipitated the overnight risk aversion, and without anything globally significant on the calendar in North America today, there’s not much to challenge these moves. For most currency pairs then, we could see some small extensions or consolidation through the rest of the day”.
AUD/USD Levels
The 20 DMA is 0.9488, the 50 DMA is 0.9303 and the 200 DMA is 0 .9749. RSI (14) reads 39.69. Supports are ascending from 0.9548, 0.9566 and 0.9604. Spot is currently 0.9630 while resistances are 0.9644, 0.9693, 0.9749, 0.9758 and 0.9792.