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19 Feb 2014
AUD/USD: epic fight of bulls and bears for 0.9000.
FXStreet (Moscow) - AUD/USD is actively trying to break below the support level of 0.9000 as the pair set the intraday minimum at 0.8989, but quickly returned to 0.9016 due to new buying interest located below the key support.
AUD/USD is out of favor
AUD/USD dollar retreated from the strong resistance of 0.9080 as Asian stock markets opened on weaker note and the Chinese business sentiment dropped to 5-year low, prompting the investors to adjust their forecasts of manufacturing PMI published tomorrow. Australian macro statistic was mixed today and mostly ignored by the markets. Now the Aussie’s fate depends of a bunch of US reports ranging from housing markets data to PPI report. Poor readings may push the Dollar lower across the board and help AUD/USD to reverse some losses. While the pair holds above 0.9000 the bulls have a chance to trap the control over the situation, though should AUD/USD drop deeply below the above said level, the bears will get excited and drive it to lower. The downside is likely to be limited by 0.8910 where s tong demand is seen.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9038, with support below at 0.8993, 0.8955 and 0.8910, with resistance above at 0.9076, 0.9121 and 0.9159. Hourly Moving Averages are mostly bearish, with the 200SMA at 0.8999 and the daily 20EMA at 0.8940. Hourly RSI is neutral at 39.
AUD/USD is out of favor
AUD/USD dollar retreated from the strong resistance of 0.9080 as Asian stock markets opened on weaker note and the Chinese business sentiment dropped to 5-year low, prompting the investors to adjust their forecasts of manufacturing PMI published tomorrow. Australian macro statistic was mixed today and mostly ignored by the markets. Now the Aussie’s fate depends of a bunch of US reports ranging from housing markets data to PPI report. Poor readings may push the Dollar lower across the board and help AUD/USD to reverse some losses. While the pair holds above 0.9000 the bulls have a chance to trap the control over the situation, though should AUD/USD drop deeply below the above said level, the bears will get excited and drive it to lower. The downside is likely to be limited by 0.8910 where s tong demand is seen.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9038, with support below at 0.8993, 0.8955 and 0.8910, with resistance above at 0.9076, 0.9121 and 0.9159. Hourly Moving Averages are mostly bearish, with the 200SMA at 0.8999 and the daily 20EMA at 0.8940. Hourly RSI is neutral at 39.