25 Nov 2013
AUD/USD stubborn from the off
FXstreet.com (London) - AUD/USD has proven to be a stubborn start from the off this week.
Jane Foley, Senior Currency Strategist at Rabobank said, “Looking ahead, the AUD is likely to be buffeted mostly by domestic and Chinese economic data. The positive reception to last week’s news of Chinese structural reforms has supported AUD/USD. That said, China still faces many hurdles, not least in implementing these reforms and we do are reluctant to forecast a break above the 0.95 level in the coming months. Near-term the 50 day sma is likely to provide some resistance at AUD/USD 0.9446".
AUD/USD Levels
The 20 DMA is 0.9403, the 50 DMA is 0.9443 and the 200 DMA is 0.9640. RSI (14) reads 43.35. Supports are ascending from 0.8973, 0.9038, 0.9070, 0.9115. Spot is currently 0.9157 while resistances are 0.9207, 0.9249, 0.9260 and 0.9278.
Jane Foley, Senior Currency Strategist at Rabobank said, “Looking ahead, the AUD is likely to be buffeted mostly by domestic and Chinese economic data. The positive reception to last week’s news of Chinese structural reforms has supported AUD/USD. That said, China still faces many hurdles, not least in implementing these reforms and we do are reluctant to forecast a break above the 0.95 level in the coming months. Near-term the 50 day sma is likely to provide some resistance at AUD/USD 0.9446".
AUD/USD Levels
The 20 DMA is 0.9403, the 50 DMA is 0.9443 and the 200 DMA is 0.9640. RSI (14) reads 43.35. Supports are ascending from 0.8973, 0.9038, 0.9070, 0.9115. Spot is currently 0.9157 while resistances are 0.9207, 0.9249, 0.9260 and 0.9278.