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19 Mar 2014
AUD/USD gained footing above 0.9100
FXStreet (Moscow) - AUD/USD rejected from the Asian high at 0.9137, but it is still above the pivotal 0.9100 level as the traders buy it on dips to the key support
AUD/USD ignores fundamentals and cracks 0.9100
AUD/USD finished Tuesday above the pivotal level of 0.9100, which improved its technical picture and inspired the bulls to push Aussie higher. From the fundamental point of view there were no meaningful reasons to grow, but the bulls used an anti-risk pressure easing as a pretext. Today Australia published Westpac Economic Activity Index that dropped 0.19% while the economists hoped for the growth of 0.53%. This news was triggered the downside correction from the Asian highs amid profit-taking. European session is likely to be shaped by speculations and position adjustment before FOMC meeting. From the technical point of view, AUD/USD is a bullish case as long as it keeps above 0.9100. Break below will open the way to 0.9070. The resistance is seen at the Asian high of 0.9137.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9109, with support below at 0.9081, 0.9034 and 0.9006, with resistance above at 0.9156, 0.9184 and 0.9231. Hourly Moving Averages are mixed, with the 200SMA at 0.9047 and the daily 20EMA at 0.9014. Hourly RSI is neutral at 53.
AUD/USD ignores fundamentals and cracks 0.9100
AUD/USD finished Tuesday above the pivotal level of 0.9100, which improved its technical picture and inspired the bulls to push Aussie higher. From the fundamental point of view there were no meaningful reasons to grow, but the bulls used an anti-risk pressure easing as a pretext. Today Australia published Westpac Economic Activity Index that dropped 0.19% while the economists hoped for the growth of 0.53%. This news was triggered the downside correction from the Asian highs amid profit-taking. European session is likely to be shaped by speculations and position adjustment before FOMC meeting. From the technical point of view, AUD/USD is a bullish case as long as it keeps above 0.9100. Break below will open the way to 0.9070. The resistance is seen at the Asian high of 0.9137.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9109, with support below at 0.9081, 0.9034 and 0.9006, with resistance above at 0.9156, 0.9184 and 0.9231. Hourly Moving Averages are mixed, with the 200SMA at 0.9047 and the daily 20EMA at 0.9014. Hourly RSI is neutral at 53.