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24 Feb 2014
AUD/USD trough 0.9000
FXStreet (Edinburgh) - The Aussie dollar is picking up pace on Monday, lifting the AUD/USD to fresh 3-day highs beyond 0.9030.
AUD/USD eyes on 0.9085
The pair is now trading on a firmer tone, propped up by a better sentiment surrounding the risk appetite. In the data front, the next event risk for the AUD will be the release of the Capital Expenditure during the fourth quarter, expected to have contracted 1.0%. Strategists Annette Beacher and Prash Newnaha at TD Securities commented, “Overlaying comestic issues, we also remain of the view that US Federal Reserve tapering will do a lot of heavy lifting in supporting the USD, keeping the AUD under pressure, as well as ongoing concerns about a Chinese economic slowdown.
AUD/USD key levels
The pair is now up 0.77% at 0.9036 with the next resistance at 0.9044 (high Feb.19) ahead of 0.9081 (high Feb.18). On the downside, a break below 0.9000 (psychological level) would expose 0.8937 (low Feb.20) and finally 0.8928 (low Feb.13).
AUD/USD eyes on 0.9085
The pair is now trading on a firmer tone, propped up by a better sentiment surrounding the risk appetite. In the data front, the next event risk for the AUD will be the release of the Capital Expenditure during the fourth quarter, expected to have contracted 1.0%. Strategists Annette Beacher and Prash Newnaha at TD Securities commented, “Overlaying comestic issues, we also remain of the view that US Federal Reserve tapering will do a lot of heavy lifting in supporting the USD, keeping the AUD under pressure, as well as ongoing concerns about a Chinese economic slowdown.
AUD/USD key levels
The pair is now up 0.77% at 0.9036 with the next resistance at 0.9044 (high Feb.19) ahead of 0.9081 (high Feb.18). On the downside, a break below 0.9000 (psychological level) would expose 0.8937 (low Feb.20) and finally 0.8928 (low Feb.13).