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10 Mar 2014
AUD/USD bears are hesitant close to the support level of 0.9030
FXStreet (Moscow) - AUD/USD dropped to 0.9032 early in Asia, though the downside has stalled for now.
Are the Aussie bulls still strong?
Much to the Aussie bulls disappointment, AUD/USD failed to close above the pivotal 0.9100 on Friday. The pair retraced from the highest level of 2014 set on 0.9136 after better than expected Non-Farm Payrolls send the US Dollar rallying higher across the board. Anyway on weekly basis the Aussie was a true winners it gained nearly 200 points and negated the losses of the previous two weeks. Looking ahead, AUD/USD is well-positioned to continue growth, there several factors that make us only cautiously optimistic about the Australian currency: first, the resistance of 0.9100 shall be broken before a new wave higher. As long as the pair trades below this level, some period of consolidation with downside bias is not completely out of the question; second, RBA have been pretty vocal about their displeasure about the Aussie rise above 0.9000; and. finally, employment report scheduled for Thursday is an important risk event for the Aussie. Watch out for these factors as they may ruin the bulls’ game. On the intraday basis keep an eye at the current Asian high at 0.9064, if this level is broken, the upside will accelerate to 0.9100. The downside is likely to be limited by 0.9000.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9088, with support below at 0.9042, 0.9013 and 0.8967, with resistance above at 0.9117, 0.9163 and 0.9192. Hourly Moving Averages are mixed, with the 200SMA at 0.8985 and the daily 20EMA at 0.8982. Hourly RSI is neutral at 32.
Are the Aussie bulls still strong?
Much to the Aussie bulls disappointment, AUD/USD failed to close above the pivotal 0.9100 on Friday. The pair retraced from the highest level of 2014 set on 0.9136 after better than expected Non-Farm Payrolls send the US Dollar rallying higher across the board. Anyway on weekly basis the Aussie was a true winners it gained nearly 200 points and negated the losses of the previous two weeks. Looking ahead, AUD/USD is well-positioned to continue growth, there several factors that make us only cautiously optimistic about the Australian currency: first, the resistance of 0.9100 shall be broken before a new wave higher. As long as the pair trades below this level, some period of consolidation with downside bias is not completely out of the question; second, RBA have been pretty vocal about their displeasure about the Aussie rise above 0.9000; and. finally, employment report scheduled for Thursday is an important risk event for the Aussie. Watch out for these factors as they may ruin the bulls’ game. On the intraday basis keep an eye at the current Asian high at 0.9064, if this level is broken, the upside will accelerate to 0.9100. The downside is likely to be limited by 0.9000.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9088, with support below at 0.9042, 0.9013 and 0.8967, with resistance above at 0.9117, 0.9163 and 0.9192. Hourly Moving Averages are mixed, with the 200SMA at 0.8985 and the daily 20EMA at 0.8982. Hourly RSI is neutral at 32.