13 Jan 2014
AUD/USD bulls are unstoppable after taking 0.9000 out of the way
FXstreet.com (Moscow) - AUD/USD has a good bullish potential today as the currency pair managed to rise above the key resistance of 0.9000 right after the market opening; currently it is trading at 0.9025.
AUD/USD has a good upside potential
AUD/USD is ready for correction in the longer term scale. December Non-farm payroll report makes a good case for it. The Home Loans and Investment Lending reports published by Australia had little impact on the AUD/USD movements as traders are preoccupied with the Fed «tapering» prospects. AUD’s dynamic is negatively correlated with US Treasury yields so the lower borrowing costs in the US will help to relief the pressure on AUD/USD. The sentiments remain bullish as long as AUD/USD trades above 0.9000. If the pair manages to close the day above that level, the AUD bulls will get full control over the situation. The move lower will return us to the consolidation phase, though the short-term downside is likely to be limited by 0.8950 where the fresh buying interest is noted.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8959, with support below at 0.8912, 0.8827 and 0.8780, with resistance above at 0.9044, 0.9091, and 0.9176. Hourly Moving Averages are bullish, with the 200SMA at 0.8925 and the daily 20EMA at 0.8952. Hourly RSI is neutral at 73.48.
AUD/USD has a good upside potential
AUD/USD is ready for correction in the longer term scale. December Non-farm payroll report makes a good case for it. The Home Loans and Investment Lending reports published by Australia had little impact on the AUD/USD movements as traders are preoccupied with the Fed «tapering» prospects. AUD’s dynamic is negatively correlated with US Treasury yields so the lower borrowing costs in the US will help to relief the pressure on AUD/USD. The sentiments remain bullish as long as AUD/USD trades above 0.9000. If the pair manages to close the day above that level, the AUD bulls will get full control over the situation. The move lower will return us to the consolidation phase, though the short-term downside is likely to be limited by 0.8950 where the fresh buying interest is noted.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8959, with support below at 0.8912, 0.8827 and 0.8780, with resistance above at 0.9044, 0.9091, and 0.9176. Hourly Moving Averages are bullish, with the 200SMA at 0.8925 and the daily 20EMA at 0.8952. Hourly RSI is neutral at 73.48.