5 Mar 2015
AUD/USD: Further moments expected limited ahead of NFP's - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXSreet noted the conditions and price action surrounding the Aussie in the US session.
Key Quotes:
"The Australian dollar slipped down to 0.7753 against the American dollar, unable to sustain gains above the 0.7800 figure. The market speculates that the RBA will cut rates some time during the upcoming meetings, regardless the Central Bank decided to stay on hold earlier this week, weighing on the antipodean currency."
"The 1 hour chart shows that the price develops well below its 20 SMA that accelerates lower, while the technical indicators are bouncing from oversold levels, supporting a short term upward correction towards the critical figure."
"In the 4 hours chart the price stands below a bearish 20 SMA while the indicators are flat below their mid-lines, giving little directional clues at the time being.
"During the upcoming hours, Australia will release its AIG Performance of Construction Index for February, latest at 45.9. A reading closer or above 50, may give the Aussie some short term support, although movements are expected to remain limited all across the board ahead of Friday's US NFP readings."
Key Quotes:
"The Australian dollar slipped down to 0.7753 against the American dollar, unable to sustain gains above the 0.7800 figure. The market speculates that the RBA will cut rates some time during the upcoming meetings, regardless the Central Bank decided to stay on hold earlier this week, weighing on the antipodean currency."
"The 1 hour chart shows that the price develops well below its 20 SMA that accelerates lower, while the technical indicators are bouncing from oversold levels, supporting a short term upward correction towards the critical figure."
"In the 4 hours chart the price stands below a bearish 20 SMA while the indicators are flat below their mid-lines, giving little directional clues at the time being.
"During the upcoming hours, Australia will release its AIG Performance of Construction Index for February, latest at 45.9. A reading closer or above 50, may give the Aussie some short term support, although movements are expected to remain limited all across the board ahead of Friday's US NFP readings."