20 Nov 2013
AUD/USD dips below 0.9400
FXstreet.com (Edinburgh) - The offered tone around the Aussie dollar is gathering pace on Wednesday, dragging the AUD/USD to the area of 0.9390/85.
AUD/USD dovish after Debelle, Chinese data
The pair could not find any traction after the expected dovish tone from Bernanke’s speech, although it negatively reacted after RBA Assistant Governor Debelle slipped the idea that a lower AUD would be preferred for the RBA. In the same direction, Chinese Business Sentiment sponsored by the MNI index dropped to 53.3 in October from 55.3. Strategists at UBS remain bearish on the pair, arguing, “The pair has been consolidating over the past few sessions but with the MACD below its zero line, there’s potential for a retest of the support ay 0.9196 and then 0.8848. Resistance is at 0.9656”.
AUD/USD key levels
As of writing the pair is losing 0.47% at 0.9386 with the immediate support at 0.9352 (low Nov.19) head of 0.9305 (low Nov.15) and then 0.9298 (50% of 0.8848-0.9758). On the flip side, a breakout of 0.9448 (high Nov.19) would bring 0.9530 (high Sep.18) and then 0.9544 (high Nov.6).
AUD/USD dovish after Debelle, Chinese data
The pair could not find any traction after the expected dovish tone from Bernanke’s speech, although it negatively reacted after RBA Assistant Governor Debelle slipped the idea that a lower AUD would be preferred for the RBA. In the same direction, Chinese Business Sentiment sponsored by the MNI index dropped to 53.3 in October from 55.3. Strategists at UBS remain bearish on the pair, arguing, “The pair has been consolidating over the past few sessions but with the MACD below its zero line, there’s potential for a retest of the support ay 0.9196 and then 0.8848. Resistance is at 0.9656”.
AUD/USD key levels
As of writing the pair is losing 0.47% at 0.9386 with the immediate support at 0.9352 (low Nov.19) head of 0.9305 (low Nov.15) and then 0.9298 (50% of 0.8848-0.9758). On the flip side, a breakout of 0.9448 (high Nov.19) would bring 0.9530 (high Sep.18) and then 0.9544 (high Nov.6).