Back
26 Feb 2014
AUD/USD clinching to 0.9000 like the devil
FXStreet (Moscow) - AUD/USD is consolidating back above 0.9000 after a brief dip below to the current Asian low at 0.8967 on the back of disappointing macro data.
The Aussie is vulnerable
The Australian currency is under pressure as investors are jittery about state of affairs in China. Political and economic turmoil of the emerging markets also scares them out of their wits and forcing to run away from risky assets and commodity currencies. AUD/USD managed to reverse losses incurred on the back of the news that the construction output had fallen 1.0% in the fourth quarter. But the upside stalled just above 0.9000 and we don’t see mush of the follow through. This means that the Aussie is vulnerable until the climate of the financial world is destructive to risk sentiments. If 0.000 is broken, the pair may return to the Asian low at 0.8967. The resistance is seen at 0.9010 and followed by 0.9024.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9021, with support below at 0.8995, 0.8878 and 0.8952, with resistance above at 0.9038, 0.9064 and 0.9081. Hourly Moving Averages are mostly bearish, with the 200SMA at 0.9010 and the daily 20EMA at 0.8966. Hourly RSI is neutral at 34.
The Aussie is vulnerable
The Australian currency is under pressure as investors are jittery about state of affairs in China. Political and economic turmoil of the emerging markets also scares them out of their wits and forcing to run away from risky assets and commodity currencies. AUD/USD managed to reverse losses incurred on the back of the news that the construction output had fallen 1.0% in the fourth quarter. But the upside stalled just above 0.9000 and we don’t see mush of the follow through. This means that the Aussie is vulnerable until the climate of the financial world is destructive to risk sentiments. If 0.000 is broken, the pair may return to the Asian low at 0.8967. The resistance is seen at 0.9010 and followed by 0.9024.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9021, with support below at 0.8995, 0.8878 and 0.8952, with resistance above at 0.9038, 0.9064 and 0.9081. Hourly Moving Averages are mostly bearish, with the 200SMA at 0.9010 and the daily 20EMA at 0.8966. Hourly RSI is neutral at 34.