5 Feb 2014
AUD/USD supported for the 0.89 handle
FXStreet (Guatemala) - AUD/USD is back on the handle of 0.89 after dipping its toes beneath the psychological number on the session.
Markets are choppy, and positioning for the data ahead. Startegists at TD Securities noted that on Thursday we have Dec Retail Sales (TD –0.2%, mkt +0.5%),but said to keep an eye for the real Retail Sales Release (TD +1.4%/qtr, mkt +1.2%) as it will kick off GDP estimates, Dec Trade Balance (TD –$125m, mkt –$225m); On Friday we have the chunky quarterly Statement on Monetary Policy. Inflation forecasts to be upgraded at a minimum (and foreshadowed by the RBA yesterday). For the US, eye’s are on Non Far Payrolls for Friday.
AUD/USD Levels
The 20 DMA is 0.8837, the 50 DMA is 0.8923 and the 200 DMA is.9271. Supports are ascending from 0.8730, 0.8765, 0.8821 and 0.8862. Spot is 0.8916 while resistances are 0.8956, 0.8971 and 0.9009.
Markets are choppy, and positioning for the data ahead. Startegists at TD Securities noted that on Thursday we have Dec Retail Sales (TD –0.2%, mkt +0.5%),but said to keep an eye for the real Retail Sales Release (TD +1.4%/qtr, mkt +1.2%) as it will kick off GDP estimates, Dec Trade Balance (TD –$125m, mkt –$225m); On Friday we have the chunky quarterly Statement on Monetary Policy. Inflation forecasts to be upgraded at a minimum (and foreshadowed by the RBA yesterday). For the US, eye’s are on Non Far Payrolls for Friday.
AUD/USD Levels
The 20 DMA is 0.8837, the 50 DMA is 0.8923 and the 200 DMA is.9271. Supports are ascending from 0.8730, 0.8765, 0.8821 and 0.8862. Spot is 0.8916 while resistances are 0.8956, 0.8971 and 0.9009.