12 Dec 2013
AUD/USD on the defensive
FXstreet.com (London) - AUD/USD is recovering from the broad based rally in the dollar when the pair dropped from 0.9060 to 0.8920.
Glenn Stevens surprised markets with his overall dovish tone overnight and when he suggested the economy would be doing better if the currency were trading closer to 0.8500. The dollar was further supported in the market with Retail Sales beating expectations with 0.7% vs 0.6% although the run was limited on the jobless claims numbers disappointments. Meanwhile, tapering is still a topic of debate.
AUD/USD Levels
The 20 DMA is 0.9177, the 50 DMA is 0.9370 and the 200 DMA is 0.9565. RSI (14) reads 23.63. support is at 0.8924 and spot is currently 0.8935. Resistances are 0.8989, 0.9015, 0.9105, 0.9125, 0.9169 and 0.9204.
Glenn Stevens surprised markets with his overall dovish tone overnight and when he suggested the economy would be doing better if the currency were trading closer to 0.8500. The dollar was further supported in the market with Retail Sales beating expectations with 0.7% vs 0.6% although the run was limited on the jobless claims numbers disappointments. Meanwhile, tapering is still a topic of debate.
AUD/USD Levels
The 20 DMA is 0.9177, the 50 DMA is 0.9370 and the 200 DMA is 0.9565. RSI (14) reads 23.63. support is at 0.8924 and spot is currently 0.8935. Resistances are 0.8989, 0.9015, 0.9105, 0.9125, 0.9169 and 0.9204.