16 Jun 2014
AUD/USD struggling ahead of 0.94 handle
FXStreet (Guatemala) - AUD/USD is trading at 0.9396, down -0.05% on the day, having posted a daily high at 0.9419 and low at 0.9373.
AUD/USD has been recovering sub 0.94 handle ahead of the RBA minutes in Asia. Meanwhile, Emmanuel Ng, FX Strategist at OCBC Bank suggested that
"Dip-buying may persist for the pair ahead of the RBA meeting minutes and especially with G10 central banks increasingly polarized by perceived widening in monetary policy stances. Notably, the slightly supportive data stream out of China late last week may also continue to impart investor confidence”.
AUD/USD Levels
Spot is presently trading at 0.9397, and next resistance can be seen at 0.9402 (Daily Classic PP), 0.9419 (Daily High), 0.9428 (Monthly High), (Weekly High) and (YTD High). Next support to the downside can be found at 0.9396 (Daily Open), 0.9394 (Hourly 20 EMA), 0.9393 (Hourly 100 SMA), 0.9391 (Weekly Classic PP) and 0.9375 (Yesterday's Low).
AUD/USD has been recovering sub 0.94 handle ahead of the RBA minutes in Asia. Meanwhile, Emmanuel Ng, FX Strategist at OCBC Bank suggested that
"Dip-buying may persist for the pair ahead of the RBA meeting minutes and especially with G10 central banks increasingly polarized by perceived widening in monetary policy stances. Notably, the slightly supportive data stream out of China late last week may also continue to impart investor confidence”.
AUD/USD Levels
Spot is presently trading at 0.9397, and next resistance can be seen at 0.9402 (Daily Classic PP), 0.9419 (Daily High), 0.9428 (Monthly High), (Weekly High) and (YTD High). Next support to the downside can be found at 0.9396 (Daily Open), 0.9394 (Hourly 20 EMA), 0.9393 (Hourly 100 SMA), 0.9391 (Weekly Classic PP) and 0.9375 (Yesterday's Low).