14 Oct 2014
AUD/USD drifting lower on 0.87 handle
FXStreet (Barcelona) - AUD/USD is trading at 0.8740 and drifting lower while NAB business confidence came in at lowest level since Australian pre-election.
Australia's NAB business confidence arrived read at 5 vs 8 previous, with NAB business conditions coming in at 1 vs 4 last. Meanwhle, the sentiment around the local currency is one that is being steered by the RBA. Governor Stevens was repeating last week that the value of the AUD “remains high by historical standards” and that “it is offering less assistance than would normally be expected in achieving balanced growth in the economy”, explained
Jane Foley, Senior Currency Strategist at Rabobank International.
AUD/USD noteworthy levels
Current price is 0.8740, with resistance ahead at 0.8763 (Hourly 200 SMA), 0.8781 (Hourly 100 SMA) and 0.8826 (Daily Classic R2). Next support to the downside can be found at 0.8718 (Daily Classic PP) and 0.8686.
Australia's NAB business confidence arrived read at 5 vs 8 previous, with NAB business conditions coming in at 1 vs 4 last. Meanwhle, the sentiment around the local currency is one that is being steered by the RBA. Governor Stevens was repeating last week that the value of the AUD “remains high by historical standards” and that “it is offering less assistance than would normally be expected in achieving balanced growth in the economy”, explained
Jane Foley, Senior Currency Strategist at Rabobank International.
AUD/USD noteworthy levels
Current price is 0.8740, with resistance ahead at 0.8763 (Hourly 200 SMA), 0.8781 (Hourly 100 SMA) and 0.8826 (Daily Classic R2). Next support to the downside can be found at 0.8718 (Daily Classic PP) and 0.8686.