2 May 2014
AUD/USD choppy near 0.9280
FXStreet (Edinburgh) - The lack of direction seems to prevail in the AUD this week, with the AUD/USD meandering around 0.9280 today.
AUD/USD eyes on US Payrolls
The pair is attempting a consolidation pattern around 0.9270/80, coming down from tops near 0.9470 posted in early April. Data-wise, New Home Sales tracked by HIA rose 0.2% inter-month in March and Producer Prices rose above estimates 0.9% QoQ in Q1. The focus today will be on US Payrolls, with consensus expecting the economy to have created 210K jobs during April. “Resistance at 0.9310/26 needs to be overcome to re-energise upside interest (favoured). This will trigger a recovery to the 0.9378 and 0.9460 highs”, observed Karen Jones, Head of FICC Technical Analysis at Commerzbank.
AUD/USD relevant levels
As of writing the pair is up 0.01% at 0.9275 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 eyes on US Payrolls
The pair is attempting a consolidation pattern around 0.9270/80, coming down from tops near 0.9470 posted in early April. Data-wise, New Home Sales tracked by HIA rose 0.2% inter-month in March and Producer Prices rose above estimates 0.9% QoQ in Q1. The focus today will be on US Payrolls, with consensus expecting the economy to have created 210K jobs during April. “Resistance at 0.9310/26 needs to be overcome to re-energise upside interest (favoured). This will trigger a recovery to the 0.9378 and 0.9460 highs”, observed Karen Jones, Head of FICC Technical Analysis at Commerzbank.
AUD/USD relevant levels
As of writing the pair is up 0.01% at 0.9275 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).