23 Aug 2013
AUD/USD moves off morning low, range bound until Jackson Hole?
FXstreet.com (Barcelona) - AUD/USD moved off its morning low at 0.8985 in recent trading, to where it currently sits at 0.8898, down -0.13% on the day.
With German and UK GDP failing to cause a splash in the Aussies ocean, the pair has ranged ahead of the US session, perhaps with many traders remaining on the sidelines with the Jackson Hole Symposium scheduled this weekend. This afternoon sees Canadian CPI ,EU Consumer Confidence and US New Homes data ahead, but for AUD/USD specifically, the docket looks absent a direct cue for any momentum.
AUD/USD Technically bearish?
The FXstreet.com Trend Index is showing AUD/USD to be slightly bullish and the OB/OS Index is near term neutral. Daily pivot support below can be found at 0.8946, 0.8881 and 0.8832, with resistance above at 0.9060, 0.9109 and 0.9174. Hourly oscillators are mixed, with Stochastics just edging out of oversold at 26, while RSI is at 46.
With German and UK GDP failing to cause a splash in the Aussies ocean, the pair has ranged ahead of the US session, perhaps with many traders remaining on the sidelines with the Jackson Hole Symposium scheduled this weekend. This afternoon sees Canadian CPI ,EU Consumer Confidence and US New Homes data ahead, but for AUD/USD specifically, the docket looks absent a direct cue for any momentum.
AUD/USD Technically bearish?
The FXstreet.com Trend Index is showing AUD/USD to be slightly bullish and the OB/OS Index is near term neutral. Daily pivot support below can be found at 0.8946, 0.8881 and 0.8832, with resistance above at 0.9060, 0.9109 and 0.9174. Hourly oscillators are mixed, with Stochastics just edging out of oversold at 26, while RSI is at 46.