17 Jun 2014
AUD/USD continues its slide; 0.9350 support is at risk
FXStreet (Moscow) - AUD/USD bears have been looking for a reason to drive the pair below 0.9400, now they’ve got one. Aussie dipped to the intraday low at 0.9353 and new losses might be in store.
Less haste, less waste
AUD/USD whirled around 0.9400 pivot most part of Monday as fluctuating risk appetite affected the Aussie demand. RBA minutes of June meeting confirmed that the central bank officials are displeased with strong Aussie rate. The market reaction to the publication was anything but muted as investors are focused rate differential story that has turned negative for the Australian currency. The central bankers made it clear: no rate hikes in foreseeable future. On the intraday basis today’s CPI in USA may be of interest from the theoretical point of view, though these figures are unlikely to trigger large market movements as they are expected to be unchanged. Keep ay eye at 0.9350/40 level on the downside and 0.9385 on the upside.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9398, with support below at 0.9378, 0.9352 and 0.9332, with resistance above at 0.9424, 0.9444 and 0.9470. Hourly Moving Averages are bearish with the 200SMA at 0.9363 and the daily 20EMA at 0.9338. Hourly RSI is bearish at 29.
Less haste, less waste
AUD/USD whirled around 0.9400 pivot most part of Monday as fluctuating risk appetite affected the Aussie demand. RBA minutes of June meeting confirmed that the central bank officials are displeased with strong Aussie rate. The market reaction to the publication was anything but muted as investors are focused rate differential story that has turned negative for the Australian currency. The central bankers made it clear: no rate hikes in foreseeable future. On the intraday basis today’s CPI in USA may be of interest from the theoretical point of view, though these figures are unlikely to trigger large market movements as they are expected to be unchanged. Keep ay eye at 0.9350/40 level on the downside and 0.9385 on the upside.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9398, with support below at 0.9378, 0.9352 and 0.9332, with resistance above at 0.9424, 0.9444 and 0.9470. Hourly Moving Averages are bearish with the 200SMA at 0.9363 and the daily 20EMA at 0.9338. Hourly RSI is bearish at 29.