22 Jan 2014
AUD/USD regrouping as a buying opportunity?
FXstreet.com (Guatemala) - AUD/USD has given back some gains and is open for bids through Asia above 0.8820 support and ahead of the 0.88 handle. Or will the pair follow through and challenge the downside?
A higher than expected CPI print saw the AUD rally aggressively. This has opened up speculation that it would make it very hard for the RBA to be cutting rates anytime soon. With the market clearly short AUD crosses, the pair has seen some more unwinding of AUD crosses in Europe and NY. AUD/USD is finding support on the day on a move towards 0.8820/40. Up ahead we have the Consumer Inflation Expectation for December.
AUD/USD Levels
The 20 DMA is 0.8904, the 50 DMA is 0.9025 and the 200 DMA is 0.9347. RSI (14) reads 36.64. Supports are ascending from 0.8737, 0.8756, 0.8788 and 0.8818. Spot is 0.8854 while resistances are 0.8888, 0.8934, 0.8956 and 0.8971.
A higher than expected CPI print saw the AUD rally aggressively. This has opened up speculation that it would make it very hard for the RBA to be cutting rates anytime soon. With the market clearly short AUD crosses, the pair has seen some more unwinding of AUD crosses in Europe and NY. AUD/USD is finding support on the day on a move towards 0.8820/40. Up ahead we have the Consumer Inflation Expectation for December.
AUD/USD Levels
The 20 DMA is 0.8904, the 50 DMA is 0.9025 and the 200 DMA is 0.9347. RSI (14) reads 36.64. Supports are ascending from 0.8737, 0.8756, 0.8788 and 0.8818. Spot is 0.8854 while resistances are 0.8888, 0.8934, 0.8956 and 0.8971.