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25 Feb 2014
AUD/USD testing lows near 0.9020
FXStreet (Edinburgh) - The Aussie dollar is now trimming early gains, dragging the AUD/USD to the lower band of the range around 0.9025/20 on Tuesday.
AUD/USD looks to the USD for action
The docket in Oz is empty today, leaving the pair’s price action to the mercy of the risk trends and mainly to the US calendar, where Consumer Confidence and the S&P/Case-Shiller index would be in the spotlight. “Notwithstanding its recent resilience, see still see AUD as likely to be more influenced by Chinese trends while the Australian economic outlook is likely to remain relatively neutral with mixed data outcomes”, suggested Greg Gibbs, Trading FX Strategist at RBS.
AUD/USD key levels
At the moment the pair is losing 0.11% at 0.9025 with the immediate support at 0.8938 (low Feb.24) followed by 0.8928 (low Feb.13) and then 0.8907 (low Feb.10). On the flip side, a breakout of 0.9050 (high Feb.24) would expose 0.9081 (high Feb.18) and finally 0.9087 (2014 high Jan.13).
AUD/USD looks to the USD for action
The docket in Oz is empty today, leaving the pair’s price action to the mercy of the risk trends and mainly to the US calendar, where Consumer Confidence and the S&P/Case-Shiller index would be in the spotlight. “Notwithstanding its recent resilience, see still see AUD as likely to be more influenced by Chinese trends while the Australian economic outlook is likely to remain relatively neutral with mixed data outcomes”, suggested Greg Gibbs, Trading FX Strategist at RBS.
AUD/USD key levels
At the moment the pair is losing 0.11% at 0.9025 with the immediate support at 0.8938 (low Feb.24) followed by 0.8928 (low Feb.13) and then 0.8907 (low Feb.10). On the flip side, a breakout of 0.9050 (high Feb.24) would expose 0.9081 (high Feb.18) and finally 0.9087 (2014 high Jan.13).