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27 Feb 2014
AUD/USD is licking wounds and trying to recover from a fall to 0.8915.
FXStreet (Barcelona) - AUD/USD has dropped to the current Asian low at 0.8915, but managed to restore some ground and settled around 0.8938.
Aussie bears are celebrating victory
Aussie is steadily moving lower after an attempt to return above 0.9000 at the start of the week. EM concerns, China concerns, FED tapering concerns, domestic concerns - aren’t there enough concerns for a currency to drop down? Australian Capex data published earlier today showed the considerable slow down in the mining and manufacturing sectors. Investors was disappointed. Charms of RBA policy decision have stopped working and the markets have started to pay more attention to the Aussie fundamentals. From the technical point of view, 0.8900 support is still the key. Strong demand seen there is likely to contain the downside, but should the pair manage to break below, the downside will accelerate to the area of market stops at 0.8880. The nearest resistance is seen at 0.8973 (current Asian high)
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8978, with support below at 0.8930, 0.8893 and 0.8845, with resistance above at 0.9015, 0.9063 and 0.9100. Hourly Moving Averages are bearish, with the 200SMA at 0.9009 and the daily 20EMA at 0.8966. Hourly RSI is neutral at 32.
Aussie bears are celebrating victory
Aussie is steadily moving lower after an attempt to return above 0.9000 at the start of the week. EM concerns, China concerns, FED tapering concerns, domestic concerns - aren’t there enough concerns for a currency to drop down? Australian Capex data published earlier today showed the considerable slow down in the mining and manufacturing sectors. Investors was disappointed. Charms of RBA policy decision have stopped working and the markets have started to pay more attention to the Aussie fundamentals. From the technical point of view, 0.8900 support is still the key. Strong demand seen there is likely to contain the downside, but should the pair manage to break below, the downside will accelerate to the area of market stops at 0.8880. The nearest resistance is seen at 0.8973 (current Asian high)
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8978, with support below at 0.8930, 0.8893 and 0.8845, with resistance above at 0.9015, 0.9063 and 0.9100. Hourly Moving Averages are bearish, with the 200SMA at 0.9009 and the daily 20EMA at 0.8966. Hourly RSI is neutral at 32.