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20 May 2014
AUD/USD easing back towards the 0.93 handle
FXStreet (Guatemala) - AUD/USD is trading at 0.9308, down -0.22% on the day, having posted a daily high at 0.9337 and low at 0.9306.
AUD/USD has been pressured to the downside, and slipping through the fingers of the bulls towards support on the 0.93 handle. The RBA minutes did not give us anything new and they had been predicted not to while their Statement on Monetary Policy had already passed our screens when it was released just few days after the May Board meeting. The main message was reiterated as low rates appropriate for some time yet; We are still in “wait and see” mode. Meanwhile, for the greenback, analysts at Rabobank explained that there is no economic data yet again in the US, but we do hear from both Dudley and Plosser, speaking on the economy and monetary policy. “For a market struggling to find a new normal, perhaps they can help give an idea of what “normality” will look like”.
AUD/USD Levels
Spot is presently trading at 0.9311, and next resistance can be seen at 0.9311 (Daily Classic S1), 0.9322 (Weekly Classic S1), 0.9325 (Yesterday's Low), 0.9330 (Daily Open) and 0.9330 (Daily 20 SMA). Support below can be found at 0.9306 (Daily Low), 0.9291 (Daily Classic S2), 0.9281 (Weekly Classic S2), 0.9258 (Daily Classic S3) and 0.9255 (Monthly Low).
AUD/USD has been pressured to the downside, and slipping through the fingers of the bulls towards support on the 0.93 handle. The RBA minutes did not give us anything new and they had been predicted not to while their Statement on Monetary Policy had already passed our screens when it was released just few days after the May Board meeting. The main message was reiterated as low rates appropriate for some time yet; We are still in “wait and see” mode. Meanwhile, for the greenback, analysts at Rabobank explained that there is no economic data yet again in the US, but we do hear from both Dudley and Plosser, speaking on the economy and monetary policy. “For a market struggling to find a new normal, perhaps they can help give an idea of what “normality” will look like”.
AUD/USD Levels
Spot is presently trading at 0.9311, and next resistance can be seen at 0.9311 (Daily Classic S1), 0.9322 (Weekly Classic S1), 0.9325 (Yesterday's Low), 0.9330 (Daily Open) and 0.9330 (Daily 20 SMA). Support below can be found at 0.9306 (Daily Low), 0.9291 (Daily Classic S2), 0.9281 (Weekly Classic S2), 0.9258 (Daily Classic S3) and 0.9255 (Monthly Low).