4 Apr 2014
AUD/USD grinds its way higher as NFP report looms
FXStreet (Moscow) - AUD/USD is slowly climbing to new highs (currently at at 0.9247) after opening at 0.9228
Aussie bulls know the time of the day
Aussie continues to consolidate with a light bullish bias, caused by technical factors and position adjustment ahead of the weekend. Though there is a low-sloped downside trend visible on the 4-hour chart with the trend line currently at 0.9258. This is the first hurdle on the way of the Aussie bulls. It is unlikely that the pair will demonstrate aggressive movements until the US labour market data is published. This report is notorious for its unexpectedness. Market people forecast that the numbers to be better than expected, and it means that a nasty surprise may trigger massive dollar sell out. This is not our preferred scenario, but it is quite possible. In this case, the AUD/USD may spike to 0.9275 (medium offers) and even higher to 0.9300, though the upside is likely to be short-lived.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9231, with support below at 0.9206, 0.9180 and 0.9155, with resistance above at 0.9257, 0.9282 and 0.9308. Hourly Moving Averages are bullish, with the 200SMA at 0.9229 and the daily 20EMA is bullish at 0.9137. Hourly RSI is neutral at 55.
Aussie bulls know the time of the day
Aussie continues to consolidate with a light bullish bias, caused by technical factors and position adjustment ahead of the weekend. Though there is a low-sloped downside trend visible on the 4-hour chart with the trend line currently at 0.9258. This is the first hurdle on the way of the Aussie bulls. It is unlikely that the pair will demonstrate aggressive movements until the US labour market data is published. This report is notorious for its unexpectedness. Market people forecast that the numbers to be better than expected, and it means that a nasty surprise may trigger massive dollar sell out. This is not our preferred scenario, but it is quite possible. In this case, the AUD/USD may spike to 0.9275 (medium offers) and even higher to 0.9300, though the upside is likely to be short-lived.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9231, with support below at 0.9206, 0.9180 and 0.9155, with resistance above at 0.9257, 0.9282 and 0.9308. Hourly Moving Averages are bullish, with the 200SMA at 0.9229 and the daily 20EMA is bullish at 0.9137. Hourly RSI is neutral at 55.