1 May 2014
AUD/USD regains 0.9300
FXStreet (Edinburgh) - The Aussie dollar is toying with the 0.9300 handle on Thursday, taking the AUD/USD to the area of 0.9290/95.
AUD/USD extends the upside
The pair continues to recover ground after bottoming out near 0.9220 on Monday, coming down from early April highs near 0.9470. In the data front, the Chinese manufacturing PMI tracked by NBS came in a tad lower than expectations at 50.4 although better than March’s 50.3. In the meantime, the AUD seems to be ignoring the declining prices of iron ore, today falling 3%. “Below trendline support at .9220 will imply a deeper sell off to .9175 then .9075 prior to recovery”, noted Karen Jones Head of FICC Technical Analysis at Commerzbank.
AUD/USD key levels
As of writing the pair is up 0.15% at 0.9302 with the next resistance at 0.9318 (high Apr.28) and then 0.9427 (high Apr.11). On the downside, a break below 0.9253 (low Apr.30) would open the door to 0.9227 (low Apr.29) and finally 0.9225 (low Apr.4).
AUD/USD extends the upside
The pair continues to recover ground after bottoming out near 0.9220 on Monday, coming down from early April highs near 0.9470. In the data front, the Chinese manufacturing PMI tracked by NBS came in a tad lower than expectations at 50.4 although better than March’s 50.3. In the meantime, the AUD seems to be ignoring the declining prices of iron ore, today falling 3%. “Below trendline support at .9220 will imply a deeper sell off to .9175 then .9075 prior to recovery”, noted Karen Jones Head of FICC Technical Analysis at Commerzbank.
AUD/USD key levels
As of writing the pair is up 0.15% at 0.9302 with the next resistance at 0.9318 (high Apr.28) and then 0.9427 (high Apr.11). On the downside, a break below 0.9253 (low Apr.30) would open the door to 0.9227 (low Apr.29) and finally 0.9225 (low Apr.4).