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27 Jan 2014
AUD/USD is trying to restore ground above 0.8700
FXstreet.com (Moscow) - AUD/USD started the day in the narrow range, and moved to the resistance of 0.8700 in s a desperate attempt to restore ground, but it seems to be too strong to be taken out at the first try.
The Aussie, poor little thing...
The Aussie lived through the second deeply bearish week and set new multi-year lows at 0.8659. The Australian currency has lots of woes: weak domestic ecumenic data, dovish RBA officials actively employing verbal interventions, signs of China slow down and emerging markets turbulence to crown it all. Australia is on holiday on Monday (it’s the Australia Day), which helped the Aussie to have quite start today. The AUD/USD may reverse some losses during the day, if it manages to go past 0.8700 resistance. The upside is likely to be contained by the resistance of 0.8736, intensified by selling orders and 1h 50 EMA. If correction proves to be strong enough, the currency pair may go further to 0.8750. To the downside, the nearest support comes at 0.8665 and followed by 0.8650, where the buying interest may re-emerge.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8711, with support below at 0.8619, 0.8598 and 0.8576, with resistance above at 0.8764, 0.8829 and 0.8882. Hourly Moving Averages are mixed, with the 200SMA at 0.8819 and the daily 20EMA at 0.8869. Hourly RSI is neutral at 44.
The Aussie, poor little thing...
The Aussie lived through the second deeply bearish week and set new multi-year lows at 0.8659. The Australian currency has lots of woes: weak domestic ecumenic data, dovish RBA officials actively employing verbal interventions, signs of China slow down and emerging markets turbulence to crown it all. Australia is on holiday on Monday (it’s the Australia Day), which helped the Aussie to have quite start today. The AUD/USD may reverse some losses during the day, if it manages to go past 0.8700 resistance. The upside is likely to be contained by the resistance of 0.8736, intensified by selling orders and 1h 50 EMA. If correction proves to be strong enough, the currency pair may go further to 0.8750. To the downside, the nearest support comes at 0.8665 and followed by 0.8650, where the buying interest may re-emerge.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8711, with support below at 0.8619, 0.8598 and 0.8576, with resistance above at 0.8764, 0.8829 and 0.8882. Hourly Moving Averages are mixed, with the 200SMA at 0.8819 and the daily 20EMA at 0.8869. Hourly RSI is neutral at 44.