10 Feb 2014
AUD/USD capped by 0.8960
FXStreet (Edinburgh) - The Aussie dollar continues to retrace the post-NFP spike to levels just shy of the 0.9000 handle, taking the AUD/USD to the area below 0.8940 so far.
AUD/USD all eyes on jobs data
Market participants will focus their attention to the release of the labour market figures in the Australian economy on Thursday, where the unemployment rate is expected to remain at 5.8% and the employment to rise by 15K during January. According to analysts at BBH Global Currency Strategy Team, “Arguably there is potential toward the mid-January high near $0.9085. However, with risk of soft Chinese data and Australia's employment report midweek and our understanding of market sentiment, we suspect participants want to sell into additional Aussie gains”.
AUD/USD key levels
At the moment the pair is losing 0.30% at 0.8932 with the next support at 0.8923 (low Feb.7) ahead of 0.8911 (50-d MA) and finally 0.8910 (low Feb.6). On the upside, a breakout of 0.8999 (high Feb.7) would open the door to 0.9000 (psychological level) and then 0.9058 (high Jan.14).
AUD/USD all eyes on jobs data
Market participants will focus their attention to the release of the labour market figures in the Australian economy on Thursday, where the unemployment rate is expected to remain at 5.8% and the employment to rise by 15K during January. According to analysts at BBH Global Currency Strategy Team, “Arguably there is potential toward the mid-January high near $0.9085. However, with risk of soft Chinese data and Australia's employment report midweek and our understanding of market sentiment, we suspect participants want to sell into additional Aussie gains”.
AUD/USD key levels
At the moment the pair is losing 0.30% at 0.8932 with the next support at 0.8923 (low Feb.7) ahead of 0.8911 (50-d MA) and finally 0.8910 (low Feb.6). On the upside, a breakout of 0.8999 (high Feb.7) would open the door to 0.9000 (psychological level) and then 0.9058 (high Jan.14).