Back
11 Feb 2014
AUD/USD has stopped at 0.9000. To retreat, or to continue growing, that is the question
FXStreet (Moscow) - AUD/USD is one of the best performers on this sleepy Asian market today as the currency pair rushed above the key resistance of 0.9000 and set the intraday high at 0.9014.
AUD/USD bulls has kept their powder dry
AUD/USD retraced lower yesterday and set an intraday low at 0.8905, within a whisker of the strong support of 0.8900 enhanced by option barrier. Though the pair returned back to the opening levels as market players are not sure it is time to sell Aussie. Toyota announced plans to stop making cars in Australia due to higher manufacturing costs and low economy of scales. This is a long term bearish factor for the Aussie as Toyota will shut factories and lots of Australians will join the ranks of unemployed. But the bunch of macro statistics from Australia published earlier today sent mixed signals about Australian economy, but higher than expected home prices and business sentiment indicator triggered the AUD/USD rally to 0.9014. Now the pair struggles to stay above the key level of 0.9000. The short-term upside is likely to be capped by market stop area at 0.9020 and strong offers at 0.9058, while strong support is seen at 0.8941.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8939, with support below at 0.8916, 0.8884 and 0.8861, with resistance above at 0.9026. Hourly Moving Averages are bullish, with the 200SMA at 0.8868 and the daily 20EMA at 0.8860. Hourly RSI is neutral at 73.
AUD/USD bulls has kept their powder dry
AUD/USD retraced lower yesterday and set an intraday low at 0.8905, within a whisker of the strong support of 0.8900 enhanced by option barrier. Though the pair returned back to the opening levels as market players are not sure it is time to sell Aussie. Toyota announced plans to stop making cars in Australia due to higher manufacturing costs and low economy of scales. This is a long term bearish factor for the Aussie as Toyota will shut factories and lots of Australians will join the ranks of unemployed. But the bunch of macro statistics from Australia published earlier today sent mixed signals about Australian economy, but higher than expected home prices and business sentiment indicator triggered the AUD/USD rally to 0.9014. Now the pair struggles to stay above the key level of 0.9000. The short-term upside is likely to be capped by market stop area at 0.9020 and strong offers at 0.9058, while strong support is seen at 0.8941.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8939, with support below at 0.8916, 0.8884 and 0.8861, with resistance above at 0.9026. Hourly Moving Averages are bullish, with the 200SMA at 0.8868 and the daily 20EMA at 0.8860. Hourly RSI is neutral at 73.