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10 Sep 2013
AUD/USD momentum slowing up
FXstreet.com (London) - AUD/USD momentum has started to slow down and offers are coming to the table around 0.9320 and 0.9312.
“The AUD is supported by the election and Chinese data. A somewhat disappointing NFP result last Friday should not derail the Fed’s tapering agenda next week but the speculation about what form the taper will take remains highly debatable”, reported research teams at TD Securities.
AUD/USD offered ahead of key resistance
“Key resistance remains at .9388/.9404 (2011 low and 2009 high) and we look for this to continue to cap the topside” – Karen Jones, Chief Strategist at Commerzbank. The 20 DMA is .9062, the 50 DMA is .9100 and the 200 DMA is .9915. RSI (14) reads 69, just below the critical 70 mark indicating the pair is losing momentum. Supports are ascending from .9010, .9038, .9063, .9115 and .9190. Spot is currently .9317 while resistances are .9320 and .9325.
“The AUD is supported by the election and Chinese data. A somewhat disappointing NFP result last Friday should not derail the Fed’s tapering agenda next week but the speculation about what form the taper will take remains highly debatable”, reported research teams at TD Securities.
AUD/USD offered ahead of key resistance
“Key resistance remains at .9388/.9404 (2011 low and 2009 high) and we look for this to continue to cap the topside” – Karen Jones, Chief Strategist at Commerzbank. The 20 DMA is .9062, the 50 DMA is .9100 and the 200 DMA is .9915. RSI (14) reads 69, just below the critical 70 mark indicating the pair is losing momentum. Supports are ascending from .9010, .9038, .9063, .9115 and .9190. Spot is currently .9317 while resistances are .9320 and .9325.