23 Jan 2014
AUD/USD rallies are being faded
FXstreet.com (Guatemala) - The AUD/USD rallies are being sold, post a soft China PMI reading last night.
The Australian CPI figures gave flight to the pair but price action there became heavy and rallies are a fade, despite the weaker set of recent US data. Data wise, US weekly jobless claims rose 1k to 326,000 which came in slightly better than forecast . Markit US PMI 53.7 preliminary in January was weak. Economists had forecast a rise to 55.0 from 54.4. Existing homes sales printed 1.0% beating expectations of 0.4%.
AUD/USD Levels
The 20 DMA is 0.8901, the 50 DMA is 0.9015 and the 200 DMA is 0.9340. RSI (14) reads 41.11. Supports are ascending from 0.8720, 0.8737, 0.8756. Spot is 0.8780 while resistances are 0.8815, 0.8858, 0.8889, 0.8940 and 0.8956.
The Australian CPI figures gave flight to the pair but price action there became heavy and rallies are a fade, despite the weaker set of recent US data. Data wise, US weekly jobless claims rose 1k to 326,000 which came in slightly better than forecast . Markit US PMI 53.7 preliminary in January was weak. Economists had forecast a rise to 55.0 from 54.4. Existing homes sales printed 1.0% beating expectations of 0.4%.
AUD/USD Levels
The 20 DMA is 0.8901, the 50 DMA is 0.9015 and the 200 DMA is 0.9340. RSI (14) reads 41.11. Supports are ascending from 0.8720, 0.8737, 0.8756. Spot is 0.8780 while resistances are 0.8815, 0.8858, 0.8889, 0.8940 and 0.8956.