3 Feb 2014
AUD/USD is on the back foot again due to dismal macro data
FXstreet.com (Moscow) - AUD/USD tried to develop a sort of upside correction at the start of the day and even reached the intraday high at 0.8770 but rather dismal economic reports from Australia and China pushed the pair back below 0.8750.
AUD/USD is vulnerable before the RBA rate decision
AUD/USD is highly vulnerable this week as the market is waiting for the RBA monetary policy decision due on Tuesday, February, 4. It is widely expected that the central bank will leave its interest rate unchanged, though the statement accompanying the announcement may be the source of high volatility. On the intraday basis the pair movements will be influenced by the positioning ahead of the key risk event. Also keep an eye on EM currency crisis developments as the Aussie may be pressured down if a new wave of anti-risk sentiment swipes the markets. The main support lies at 0.8700, once it is broken, the downside will accelerate to the Friday’s low at 0.8693 and then to the area od bids at 0.8650. The resistance comes at 0.8750 and followed by 0.8775/80. It is intensified by medium offers. Should the bulls manage to push the pair above this level, 0.8800 will come into sight.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8757, with support below at 0.8688, 0.8626 and 0.8557, with resistance above at 0.8819, 0.8888 and 0.8950. Hourly Moving Averages are mostly bullish, with the 200SMA at 0.8772 and the daily 20EMA at 0.8826. Hourly RSI is neutral at 52.
AUD/USD is vulnerable before the RBA rate decision
AUD/USD is highly vulnerable this week as the market is waiting for the RBA monetary policy decision due on Tuesday, February, 4. It is widely expected that the central bank will leave its interest rate unchanged, though the statement accompanying the announcement may be the source of high volatility. On the intraday basis the pair movements will be influenced by the positioning ahead of the key risk event. Also keep an eye on EM currency crisis developments as the Aussie may be pressured down if a new wave of anti-risk sentiment swipes the markets. The main support lies at 0.8700, once it is broken, the downside will accelerate to the Friday’s low at 0.8693 and then to the area od bids at 0.8650. The resistance comes at 0.8750 and followed by 0.8775/80. It is intensified by medium offers. Should the bulls manage to push the pair above this level, 0.8800 will come into sight.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8757, with support below at 0.8688, 0.8626 and 0.8557, with resistance above at 0.8819, 0.8888 and 0.8950. Hourly Moving Averages are mostly bullish, with the 200SMA at 0.8772 and the daily 20EMA at 0.8826. Hourly RSI is neutral at 52.