10 Jul 2014
AUD/USD is clinching to 0.9400
FXStreet (Moscow) - AUD/USD bulls are trying hard to hold the line of 0.9400 as bears continue their assault following the disappointing labour market data from Australia
Is it a losing battle for Aussie bulls?
AUD/USD has fallen out of favor once again. Aussie bulls got the chance to push the pair above 0,9400 on Wednesday due to less hawkish FOMC minutes than hoped for. Alas, their joy was short-lived as Australian labour market report made lots of mischief in Asia today. Better than expected headline job growth number pushed Aussie 0.9456 high, but the upside was quickly reversed as the details of the report imply a substantial weakness of the Australian labour market. AUD/USD might have a chance for a consolidation period in a new higher range, if it manages to close above 0.9400 on daily basis today, while a sustained break below might result in a deeper decline to 0.9350 support.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9407, with support below at 0.9389, 0.9363 and 0.9345, with resistance above at 0.9433, 0.9451 and 0.9477. Hourly Moving Averages are mixed with the 200SMA at 0.9404 and the daily 20EMA at 0.9391. Hourly RSI is bearish at 47.
Is it a losing battle for Aussie bulls?
AUD/USD has fallen out of favor once again. Aussie bulls got the chance to push the pair above 0,9400 on Wednesday due to less hawkish FOMC minutes than hoped for. Alas, their joy was short-lived as Australian labour market report made lots of mischief in Asia today. Better than expected headline job growth number pushed Aussie 0.9456 high, but the upside was quickly reversed as the details of the report imply a substantial weakness of the Australian labour market. AUD/USD might have a chance for a consolidation period in a new higher range, if it manages to close above 0.9400 on daily basis today, while a sustained break below might result in a deeper decline to 0.9350 support.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9407, with support below at 0.9389, 0.9363 and 0.9345, with resistance above at 0.9433, 0.9451 and 0.9477. Hourly Moving Averages are mixed with the 200SMA at 0.9404 and the daily 20EMA at 0.9391. Hourly RSI is bearish at 47.