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10 Jun 2014
AUD/USD mixed bag of sentiment
FXStreet (Guatemala) - AUD/USD is trading at 0.9366, up 0.11% on the day, having posted a daily high at 0.9386 and low at 0.9341.
AUD/USD is trading at 0.9366, up 0.11% on the day, having posted a daily high at 0.9386 and low at 0.9341. The Australian data has been mixed of late so the sees AUD rally struggling. Meanwhile, Jane Foley, Senior Currency Strategist at Rabobank explained that on one hand the AUD should find support from buoyant levels of risk appetite going forward. Domestic fundamentals have also been better this year”. She explained that the overnight news of an improvement in the NAB business confidence index is another sign that the Australian economy is responding to the RBA’s accommodative policy setting. “However, the sharp 5.6% m/m drop in the ANZ job advertisement release is potentially a worrying signal. Despite the improvement in domestic economic data this year, we remain concerned about the weakness in business investment. Without a pick- up in investment, uncertainty over future job creation will prevail. AUD/USD is currently approaching resistance in the 0.94 area. While a break higher could strengthen the technical picture, we see risk that a AUD/USD0.92 to 0.84 range will dominant in the coming weeks”.
AUD/USD Levels
Current price is 0.9367, with resistance ahead at 0.9370 (Daily Classic R1), 0.9379 (Monthly High), 0.9383 (Daily Classic R2), 0.9386 (Daily High) and 0.9386 (Weekly Classic R1). Next support to the downside can be found at 0.9366 (Yesterday's High), 0.9361 (Hourly 20 EMA), 0.9356 (Weekly High), 0.9356 (Daily Open) and 0.9351 (Daily Classic PP).
AUD/USD is trading at 0.9366, up 0.11% on the day, having posted a daily high at 0.9386 and low at 0.9341. The Australian data has been mixed of late so the sees AUD rally struggling. Meanwhile, Jane Foley, Senior Currency Strategist at Rabobank explained that on one hand the AUD should find support from buoyant levels of risk appetite going forward. Domestic fundamentals have also been better this year”. She explained that the overnight news of an improvement in the NAB business confidence index is another sign that the Australian economy is responding to the RBA’s accommodative policy setting. “However, the sharp 5.6% m/m drop in the ANZ job advertisement release is potentially a worrying signal. Despite the improvement in domestic economic data this year, we remain concerned about the weakness in business investment. Without a pick- up in investment, uncertainty over future job creation will prevail. AUD/USD is currently approaching resistance in the 0.94 area. While a break higher could strengthen the technical picture, we see risk that a AUD/USD0.92 to 0.84 range will dominant in the coming weeks”.
AUD/USD Levels
Current price is 0.9367, with resistance ahead at 0.9370 (Daily Classic R1), 0.9379 (Monthly High), 0.9383 (Daily Classic R2), 0.9386 (Daily High) and 0.9386 (Weekly Classic R1). Next support to the downside can be found at 0.9366 (Yesterday's High), 0.9361 (Hourly 20 EMA), 0.9356 (Weekly High), 0.9356 (Daily Open) and 0.9351 (Daily Classic PP).