1 May 2014
AUD/USD surrenders daily gains
FXStreet (Córdoba) - The AUD/USD faced tough resistance above 0.9300 and turned south, surrendering previous daily gains during the European session.
Without much happening in FX markets until upcoming New York session, the AUD/USD managed to print a higher high at 0.9311 Thursday, but found sellers and retreated all the way back to 0.9280. At time of writing, the AUD/USD is trading at the 0.9285 zone, virtually unchanged on the day as investors await next string of US data.
Among others, the US will release initial jobless claims, personal income/spending and the ISM manufacturing PMI. Tomorrow, the nonfarm payrolls will take center stage.
AUD/USD technical levels
As for technical levels, the AUD/USD could find immediate supports at 0.9278 (May 1 low), 0.9251 (Apr 30 low) and 0.9226 (Apr 29 low). On the flip side, if the Aussie breaks above 0.9311, next resistances line up at 0.9325 (20-day SMA) and 0.9375 (Apr 23 high).
Without much happening in FX markets until upcoming New York session, the AUD/USD managed to print a higher high at 0.9311 Thursday, but found sellers and retreated all the way back to 0.9280. At time of writing, the AUD/USD is trading at the 0.9285 zone, virtually unchanged on the day as investors await next string of US data.
Among others, the US will release initial jobless claims, personal income/spending and the ISM manufacturing PMI. Tomorrow, the nonfarm payrolls will take center stage.
AUD/USD technical levels
As for technical levels, the AUD/USD could find immediate supports at 0.9278 (May 1 low), 0.9251 (Apr 30 low) and 0.9226 (Apr 29 low). On the flip side, if the Aussie breaks above 0.9311, next resistances line up at 0.9325 (20-day SMA) and 0.9375 (Apr 23 high).