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16 May 2014
AUD/USD is no great shakes today
FXStreet (Moscow) - AUD/USD is sidelined in Asia. The pair has recovered from lows of 0.9344 to 0.9354, but vulnerable to new losses
Sitting in the range
Failed attempts to break through the resistance level of 0.9400 resulted in clear bearish movement to the lower side of recent AUD/USD range. Busy US economic calendar yielded mixed results and caused a good deal of market volatility. There are a couple of interesting publications scheduled for today, that will help to shape investor sentiments into the end of the week. Namely, don’t miss US housing starts in April as this report is often viewed as an acid test for overall economic conditions. Positive numbers might support the USD, but as long as AUD/USD stays above 0.9310/00, bulls have a chance for revenge. This area often attracts new buyers, so the rebound is quite possible.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9359, with support below at 0.9323, 0.9289 and 0.9253, with resistance above at 0.9393, 0.9429 and 0.9463. Hourly Moving Averages are mixed, with the 200SMA at 0.9356 and the daily 20EMA at 0.9327. Hourly RSI is bullish at 50.
Sitting in the range
Failed attempts to break through the resistance level of 0.9400 resulted in clear bearish movement to the lower side of recent AUD/USD range. Busy US economic calendar yielded mixed results and caused a good deal of market volatility. There are a couple of interesting publications scheduled for today, that will help to shape investor sentiments into the end of the week. Namely, don’t miss US housing starts in April as this report is often viewed as an acid test for overall economic conditions. Positive numbers might support the USD, but as long as AUD/USD stays above 0.9310/00, bulls have a chance for revenge. This area often attracts new buyers, so the rebound is quite possible.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9359, with support below at 0.9323, 0.9289 and 0.9253, with resistance above at 0.9393, 0.9429 and 0.9463. Hourly Moving Averages are mixed, with the 200SMA at 0.9356 and the daily 20EMA at 0.9327. Hourly RSI is bullish at 50.