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6 Sep 2013
AUD/USD, firm at 2-week highs despite crack below 0.92 zone
FXstreet.com (Chicago) - AUD/USD was capped at 0.9216 after NFP data and Russia’s comments on Syrian support in case the US decides to strike the Middle Eastern country militarily. The pair consolidates close to the 0.92 zone in the afternoon of the American trading session.
Elections and NFP
The Fed’s tapering was cooled down today after nonfarm payrolls failed to meet estimates at 180K to settle for 169K. The US unemployment rate improved by 0.1% at 7.3% vs. past and expected 7.4%. In Australia, the country prepared for federal elections this weekend with Prime Minister Kevin Rudd facing Tony Abbott. In recent comments, Russia stated it would support Syria in case there is a military strike by the US, dragging the equities markets down and worsening today’s weakening of the dollar.
AUD/USD Technical Levels
Technically speaking, the pair was able to recover yesterday’s losses to climb back above the 0.92 zone momentarily. Extending the medium-term upward trendline, the pair is offered at 0.9194 and navigates between supports at 0.9188 (July 17th lows), 0.9133 (July 25th lows) ahead of 0.9091 (August 13th lows) and resistances at 0.9233 (August 16th highs), 0.9292 (July 26th highs) followed by 0.9339 (June 26th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and can be bought above the EMA20.
Elections and NFP
The Fed’s tapering was cooled down today after nonfarm payrolls failed to meet estimates at 180K to settle for 169K. The US unemployment rate improved by 0.1% at 7.3% vs. past and expected 7.4%. In Australia, the country prepared for federal elections this weekend with Prime Minister Kevin Rudd facing Tony Abbott. In recent comments, Russia stated it would support Syria in case there is a military strike by the US, dragging the equities markets down and worsening today’s weakening of the dollar.
AUD/USD Technical Levels
Technically speaking, the pair was able to recover yesterday’s losses to climb back above the 0.92 zone momentarily. Extending the medium-term upward trendline, the pair is offered at 0.9194 and navigates between supports at 0.9188 (July 17th lows), 0.9133 (July 25th lows) ahead of 0.9091 (August 13th lows) and resistances at 0.9233 (August 16th highs), 0.9292 (July 26th highs) followed by 0.9339 (June 26th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and can be bought above the EMA20.