3 Feb 2014
AUD/USD oscillating around 0.88 handle
FXStreet (Guatemala) - AUD/USD had seen strong demand up to current levels into 0.88’s.
The pair ran up from 0.8740 area, stalling momentarily at 0.8760 resistances and then carried on through into weak supply at 0.8790 before penetrating a new handle and reaching a high of 0.8807. Quite simply, the Aussie has been the best performer, especially against on the Euro and Sterling crosses. There has not been much in the way of fundamentals to look into. We did have US Markit PMI where markets were expecting 53.9. The figure came in at 53.7 in January from 55.0 in December with little market reaction there. We now await ISM manufacturing coming up.
AUD/USD Levels
The 20 DMA is 0.8847, the 50 DMA is 0.8935 and the 200 DMA is 0.9287. RSI (14) reads 63.33. Supports are ascending from 0.8544, 0.8623, 0.8633, 0.8660, Spot is currently 0.8797 while resistances are 0.8826, 0.8858, 0.8889 and 0.8934.
The pair ran up from 0.8740 area, stalling momentarily at 0.8760 resistances and then carried on through into weak supply at 0.8790 before penetrating a new handle and reaching a high of 0.8807. Quite simply, the Aussie has been the best performer, especially against on the Euro and Sterling crosses. There has not been much in the way of fundamentals to look into. We did have US Markit PMI where markets were expecting 53.9. The figure came in at 53.7 in January from 55.0 in December with little market reaction there. We now await ISM manufacturing coming up.
AUD/USD Levels
The 20 DMA is 0.8847, the 50 DMA is 0.8935 and the 200 DMA is 0.9287. RSI (14) reads 63.33. Supports are ascending from 0.8544, 0.8623, 0.8633, 0.8660, Spot is currently 0.8797 while resistances are 0.8826, 0.8858, 0.8889 and 0.8934.