31 Jan 2014
AUD/USD recovering ground
FXstreet.com (Guatemala) - AUD/USD is recovering ground from the drop to when the pair traded below the 0.87 handle.
AUD/USD is trading on the bid with demand that followed a fall from 0.8760. Meanwhile, we look forward to next weeks RBA. Strategists at TD Securities said, “The RBA Board is widely expected to leave the cash rate at 2.5% for its first meeting of 2014 as that is the easy decision. While there is a weak employment report and stronger inflation to discuss, along with EM turmoil and US tapering, all eyes will still be on how the Board views the AUD at $US0.87-0.88”.
AUD/USD Levels
The 20 DMA is 0.8857, the 50 DMA is 0.8943 and the 200 DMA is 0.9294. RSI (14) reads 55.11. Supports are ascending from 0.8623, 0.8633, 0.8660, 0.8706. Spot is 0.8743 while resistances are 0.8826, 0.8858, 0.8889 and 0.8934.
AUD/USD is trading on the bid with demand that followed a fall from 0.8760. Meanwhile, we look forward to next weeks RBA. Strategists at TD Securities said, “The RBA Board is widely expected to leave the cash rate at 2.5% for its first meeting of 2014 as that is the easy decision. While there is a weak employment report and stronger inflation to discuss, along with EM turmoil and US tapering, all eyes will still be on how the Board views the AUD at $US0.87-0.88”.
AUD/USD Levels
The 20 DMA is 0.8857, the 50 DMA is 0.8943 and the 200 DMA is 0.9294. RSI (14) reads 55.11. Supports are ascending from 0.8623, 0.8633, 0.8660, 0.8706. Spot is 0.8743 while resistances are 0.8826, 0.8858, 0.8889 and 0.8934.