24 Oct 2013
AUD/USD making a come back
FXstreet.com (London) - AUD/USD has reformed back above 0.96 handle where it has met resistance at 0.9620.
AUD ran into a spot of bother while RBA Deputy Governor Lowe’s speech detailed that while the lower AUD ("8% lower since April") has been welcome, "further depreciation would be helpful"”. Meanwhile, on the data front, Initial Jobless Claims disappointed at 350K against a consensus of 340k. Trade Balance for (Aug) printed better than anticipated $-38.80B vs $39.50B. Manufacturing data from the world’s two largest economies came with U.S. factory output expanded in October at a slower pace than forecast while Chinese manufacturing output strengthened this month more than anticipated.
AUD/USD Levels
The 20 DMA is 0.9498, the 50 DMA is 0.9312 and the 200 DMA is 0.9744. RSI (14) reads 45.29. Supports are ascending from 0.9527, 0.9548, and 0.9566. Spot is 0.9616 while resistances are 0.9648, 0.9693, 0.9715, 0.9749 and 0.9758.
AUD ran into a spot of bother while RBA Deputy Governor Lowe’s speech detailed that while the lower AUD ("8% lower since April") has been welcome, "further depreciation would be helpful"”. Meanwhile, on the data front, Initial Jobless Claims disappointed at 350K against a consensus of 340k. Trade Balance for (Aug) printed better than anticipated $-38.80B vs $39.50B. Manufacturing data from the world’s two largest economies came with U.S. factory output expanded in October at a slower pace than forecast while Chinese manufacturing output strengthened this month more than anticipated.
AUD/USD Levels
The 20 DMA is 0.9498, the 50 DMA is 0.9312 and the 200 DMA is 0.9744. RSI (14) reads 45.29. Supports are ascending from 0.9527, 0.9548, and 0.9566. Spot is 0.9616 while resistances are 0.9648, 0.9693, 0.9715, 0.9749 and 0.9758.