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3 Apr 2014
AUD/USD is on the way to new lows; 0.9200 is in sight
FXStreet (Moscow) - AUD/USD is moving to an Asian low of 0.9212 as the bulls are discouraged by RBA Governor Glenn Stevens comments.
Stevens upset Aussie bulls
AUD/USD is under pressure again. The resistance of 0.9300 has become a pipe dream of the bulls, while 0.9200 might become a reality pretty soon. Though the pair seems to be moving within a range on the intraday charts, the break below 0.9200 will signal the switch to bearish mode and accelerate the downside correction. The retails sales data published earlier today came out worse than expected and pushed the Aussie to the current lows at 0.9200, while the comments for the Head of RBA Stevens added the gloom to the overall picture. He sounded a bit concerned about the economic developments, though the currency rate was not mentioned. The key support level for AUD/USD is 0.9200. Once it is broken the pair will go down to 0.9180 and to the area of medium stops at 0.9150. The upside correction will be limited by medium offers at 0.9275.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9245, with support below at 0.9225, 0.9202 and 0.9182, with resistance above at 0.9268, 0.9288 and 0.9311. Hourly Moving Averages are bearish, with the 200SMA at 0.9210 and the daily 20EMA is bullish at 0.9139. Hourly RSI is neutral at 38.
Stevens upset Aussie bulls
AUD/USD is under pressure again. The resistance of 0.9300 has become a pipe dream of the bulls, while 0.9200 might become a reality pretty soon. Though the pair seems to be moving within a range on the intraday charts, the break below 0.9200 will signal the switch to bearish mode and accelerate the downside correction. The retails sales data published earlier today came out worse than expected and pushed the Aussie to the current lows at 0.9200, while the comments for the Head of RBA Stevens added the gloom to the overall picture. He sounded a bit concerned about the economic developments, though the currency rate was not mentioned. The key support level for AUD/USD is 0.9200. Once it is broken the pair will go down to 0.9180 and to the area of medium stops at 0.9150. The upside correction will be limited by medium offers at 0.9275.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9245, with support below at 0.9225, 0.9202 and 0.9182, with resistance above at 0.9268, 0.9288 and 0.9311. Hourly Moving Averages are bearish, with the 200SMA at 0.9210 and the daily 20EMA is bullish at 0.9139. Hourly RSI is neutral at 38.