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13 Mar 2014
Aussie bulls paused to take a breathe after a spectacular rush higher
FXStreet (Moscow) - AUD/USD is a star today as the pair broke above 0.9000, touched an intraday high at 0.9074, and paused close to the area of light stops at 0.9060.
Everything comes to him who waits
Aussie dollar rebounded from the week's 0.8922 after the four day decline caused by disappointing domestic reports coupled with difficult geopolitical situation and anti-risk sentiments caused by possible China corporate defaults. AUD/USD bounced to 0.8992, but finished the day below 0.9000. Investors did not want to be too bearish ahead of labor market report, and they were right as it that came up mush better than expected (+47k against forecasted +15k) and triggered the Aussie spike to current Asian highs at 0.9074. Observers are too shocked to believe it is something more than a statistical glitch, but traders are more positive as AUD/USD is still pretty strong. Now that the key risk event is behind us, the markets will switch their attention to the US retail sales and Weekly jobless claims. Also keep in mind that the Crimea referendum is just around the corner and it is a real big unknown for the market. It means that risk-sensitive currencies may be out of favor. On the intraday basis, the key levels are: 0.9080 followed but medium offers at 0.9100 on the upside and 0.8993 followed by 0.8910 with demand on approach.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8969, with support below at 0.8942, 0.8897 and 0.8870, with resistance above at 0.9014, 0.9041 and 0.9086. Hourly Moving Averages are bullish, with the 200SMA at 0.8996 and the daily 20EMA at 0.8985. Hourly RSI is neutral at 77.
Everything comes to him who waits
Aussie dollar rebounded from the week's 0.8922 after the four day decline caused by disappointing domestic reports coupled with difficult geopolitical situation and anti-risk sentiments caused by possible China corporate defaults. AUD/USD bounced to 0.8992, but finished the day below 0.9000. Investors did not want to be too bearish ahead of labor market report, and they were right as it that came up mush better than expected (+47k against forecasted +15k) and triggered the Aussie spike to current Asian highs at 0.9074. Observers are too shocked to believe it is something more than a statistical glitch, but traders are more positive as AUD/USD is still pretty strong. Now that the key risk event is behind us, the markets will switch their attention to the US retail sales and Weekly jobless claims. Also keep in mind that the Crimea referendum is just around the corner and it is a real big unknown for the market. It means that risk-sensitive currencies may be out of favor. On the intraday basis, the key levels are: 0.9080 followed but medium offers at 0.9100 on the upside and 0.8993 followed by 0.8910 with demand on approach.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8969, with support below at 0.8942, 0.8897 and 0.8870, with resistance above at 0.9014, 0.9041 and 0.9086. Hourly Moving Averages are bullish, with the 200SMA at 0.8996 and the daily 20EMA at 0.8985. Hourly RSI is neutral at 77.