10 Oct 2013
AUD/USD meeting supply on attempts to the upside
FXstreet.com (London) - AUD/USD trading at a spot reference of 0.9460 is attempting the upside again on dollar weakness although supply is fending off the bids containing the pair to a tight range.
With there being little on the calendar the developments in the US continue to dominate in regard to the debt ceiling and countdown to the deadline. However, from Australia’s events, Research teams at TD Securities said, “The AUD traded heavily in the wake of a soft Australian employment report, but has since recovered most loses in line with the overarching consolidative tone to the FX space this morning. The wave of optimism on the currency since early September also continues to threaten the sizeable speculative short position, although the short term direction for AUD/USD should be more focused on US developments in the near term”.
AUD/USD Levels
The 20 DMA is 0.9390, the 50 DMA is 0.9205 and the 200 DMA is 0.9791. RSI (14) reads 50.04. Supports are ascending from 0.9280, 0.9334, 0.9367, 0.9399 and 0.9450. Spot is currently 0.9460 while resistances are 0.9485, 0.9503, 0.9530 and 0.9581.
With there being little on the calendar the developments in the US continue to dominate in regard to the debt ceiling and countdown to the deadline. However, from Australia’s events, Research teams at TD Securities said, “The AUD traded heavily in the wake of a soft Australian employment report, but has since recovered most loses in line with the overarching consolidative tone to the FX space this morning. The wave of optimism on the currency since early September also continues to threaten the sizeable speculative short position, although the short term direction for AUD/USD should be more focused on US developments in the near term”.
AUD/USD Levels
The 20 DMA is 0.9390, the 50 DMA is 0.9205 and the 200 DMA is 0.9791. RSI (14) reads 50.04. Supports are ascending from 0.9280, 0.9334, 0.9367, 0.9399 and 0.9450. Spot is currently 0.9460 while resistances are 0.9485, 0.9503, 0.9530 and 0.9581.